Deloitte VP Offers Suggestions for Harnessing Power of Technology in Retail

By PYMNTS | January 10, 2011

Challenges and opportunities presented by new technologies were among the hot topics at this morning’s panel “Consumer 2020: What Lies Ahead for the Retail Industry?” sponsored by Deloitte.

Alison Paul, Vice Chairman and U.S. Retail Leader at Deloitte, again brought up the issue that consumers, empowered by social media, are often more knowledgeable about products than store employees. She suggested that retailers respond by engaging employees in conversation with consumers over social media and other channels. (Related Article: Social Commerce: Who’s Turning Visits into Cash?)

“The leaders of 2020 will be the ones who turn these challenges into opportunities for the future,” she said.

Watch the video below for more of Paul’s comments:

National Retail Federation’s 100th Annual Convention & Expo

Sunday, Jan. 9

1) Using Mobile Payments to Increase the Base of Contactable Customers (9 a.m.)

– The Golden Rule of mCommerce

– Astounding Figures on the Growth of Mobile Banking

– Why Mobile Could Be the Ultimate Cross-Channel Marketing Tool

– What Consumers Want Out of Retailers’ Mobile Apps

– 90% of Consumers Would Pay for Mobile Payment Options

2) Target and ConAgra Foods on Converting Social Media Activity into Sales (10 a.m.)

3) First Data’s Security Panel Offers Tips for Protecting Your Business (11:30 a.m.)

4) IBM on How to Capitalize on the Smarter Consumer (1:45 p.m.)

5) SAP Examines Precision Retailing and the Mobilized Consumer (3 p.m.)

Monday, Jan. 10

1) Deloitte VP Offers Suggestions for Harnessing Power of Technology in Retail (10:30 a.m.)

2) Macy’s, Tesco and Food Lion Executives Analyze Evolving Retail Landscape (11:45 a.m.)

3) Why Bankers Might Not Be Fond of the Tesco Credit Card (12:15 p.m.)

4) Greetings from the Floor at NRF! (1:45 p.m.)

5) Social Commerce: Is It Worth the Effort? (2:45 p.m.)

6) iPad Retail Apps: Thumbs Up or Thumbs Down (3:15 p.m.)

7) Steve Madden and Golfsmith’s Biggest mCommerce Mistakes of 2010 (4:30 p.m.)