In a talk at TNW Conference Henry Davis of Glossier addressed the importance of retailers creating and owning technology to foster direct relationships with customers and deeper engagement with brands. New shopping and e-commerce experiences need to be social and brands need to engage customers directly to become brand advocates without outsourcing that connection to social media platforms.
It is no longer enough for brands to try to compete on convenience, cost and speed in e-commerce. The future of e-commerce will be companies who realize that the internet is the value proposition, not just the channel. The winners will use technology to engage people in new ways that redefine the paradigm of the customer / brand relationship through new platforms and programs and content. Retailers need to leverage customer data and insights from these platforms to drive product and brand strategy. Brands and products of the future must be co-created with customers via new and innovative experiences and applications.