Freshinfo reported that Microsoft founder Bill Gates addressed UK retail leaders last week. But what nuggets did the great man impart? Click here to find out.
Bill Gates told some of the UK’s leading retail leaders that the efficient use of technology is one of the key drivers of competitiveness in the modern-day retail environment.
Speaking at a seminar organised by the British Retail Consortium, Gates said: “In their businesses, retailers are increasingly using technology to digitize and customise sales and product information and to break it down more effectively by product line and sales area. In the near future, technology will enable people right across the business to share this information with greater impact and more effectively with their colleagues in real time.”
“You will see UK retailers use technology in many ways to respond to change and achieve competitive edge in an increasingly competitive environment,” he said.
Gates warned that some supply chain technologies would still take time to mature and to reach price points that would make broad adoption possible and that technology solutions wouldn’t necessarily win the day in all areas.
“Consumers are involved and there are complex sociological factors behind all these changes,” he said.
He also touched on the dramatic changes that can be expected in digital media and the impact this will have on advertising. Businesses that manage to align the point of interest in a product with effective advertising delivered via search engines are leading the way, he said.
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