C o m m e rc e C e n t r e
WHAT'S THE STORY
Embedded in-store sensors provide valuable data about customer behaviour and feedback. The Latest is a live field study for brands.
Experience-as-a-Service: brands and entrepreneurs can present their innovations on a sales floor that can be part-rented. Pictured: Dhi Matiole Nunes.
THE LATEST/BERLIN
FUTURE HUB FOR EARLY ADOPTERS In order to establish the city centre as an emotionally viable platform for innovation, it requires ideas that look far into the future. The team of The Latest is keen on setting an example on Berlin’s “Ku’damm”. Text: Isabel Faiss. Photos: The Latest
Mr Nunes, what must a stationary store of tomorrow be capable of to remain competitive in the face of e-commerce’s speed? Dhi Matiole Nunes, co-founder of The Latest: Fundamentally, we have to acknowledge that physical stores cannot compete with the offer, product availability, and price pressure of online retailing. However, I firmly believe that, in turn, the experience surrounding a brand or product cannot be reproduced online. Emotion is essential. It is my conviction that brick-and-mortar retail needs to cooperate with its online counterparts while focusing on those services that cannot be experienced online.
This creates real added value for brands. The relationship between retailers and manufacturers is out of sync. Manufacturers are frequently forced to pay high advertising subsidies to retailers and agree to long payment terms, but do not receive the desired performance in return. It is time for manufacturers to reclaim the customer journey. What are topics that will dominate stationary retail in the future? Stationary retail will no longer necessarily be the place of purchase, but the place of experience. The focus will no longer be on mass products, but on the showcasing of curated products. The future will bring brand stores in major metropolises that present the latest and most innovative products to their customers and the so-called key opinion leaders. Topicality or appeal? How does The Latest answer this question? We strive to establish a vision through our concept, remaining one step ahead of the
prevalent trends and retail environment. The Latest prioritises product experience and community engagement. Our curated presentation area exclusively showcases selected products that have to meet certain criteria such as no existing presence in stationary retail and a high innovation level. Naturally, we are delighted when a customer decides to shop with us locally – but that is merely a peripheral aspect. The Latest serves as a brand ambassador for the manufacturers it represents. Our objective is to offer the best possible in-store experience to all interested parties. For example, anyone who discovers a certain product through our marketing activities receives in-depth advice from our store experts and is introduced to the product world. The Latest is therefore not only a testing ground for companies, but also a playground for end customers.
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