The dramatic expansion of online retail has hastened the end of 'pure-play' e-commerce as retailers develop their own networks of outlets, a leading data analyst has told PropertyEU at Expo Real.
Cyrus Gilbert-Rolfe, CEO of Portugal-based Movvo, predicted that even online giant Amazon would move into the physical arena before long. 'The bet is just what are they going to buy?' he said. 'Is it going to be every post office in the world? Is it going to be every gas station in the world? They need distribution.'
Rolfe said retailers needed ever more sophisticated data and analysis so they could keep up with their customers' changing demands. '“I want my stuff” has been replaced by “I want my experience” and the brands are responding to it,' he said.
'At Movvo what we're trying to do is take advantage of Internet of Things technology when every sensor or every data point is self-describing and available across the network.'
Untimately, the whole sector needs to get to grips with the need to diagnose data, not just collect it, Rolfe said. 'It's a fascinating opportunity for us but I think it's a mission critical one for the industry.'
Watch the full interview here on PropertyEU's YouTube channel
