Monday, September 29, 2014

eBay President Devin Wenig on Future Retailing

Devin Wenig, President of eBay Marketplaces, spoke recently with McKinsey about a vision and plan for the pioneering retailer.  Below are comments and quotes:

Within 24 months, no one will have a mobile strategy. They'll just have an omni-channel, connected-screens strategy.

I've shopped markets from Haiti to Bahrain, and I'll tell you NOT "everything is omni channel." 

I should say the death of the store has been greatly exaggerated. There will be a transformation of retail real estate, but not an end to it.
The sustainable advantage of a retailer, or of a digital commerce business, is data.

Big data is the exponential aggregate of customers; small data is the personal engagement with a customer.

Judgment and insight are the art vis-a-vis the science of big data and analytics retailing. 

There’s no reason that digital shopping can’t be both utilitarian and inspiring, and I think that’s the next wave.

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