Allianz : What Consumer 3.0 Really Wants

For companies, a strong digital presence can strengthen their brands. Companies need to treat the online world as a mean, not an end; a strategic tool, not a strategy. The trick is to find the right balance between digital and physical.

Interestingly, e-commerce accounted for only 7 percent of total retail sales in 2015. Most retailers were pushed to invest online, but actually failed to reshape the customer's journey and the seamless experience that customers have grown to expect. The influence of digital touchpoints is undeniable, but physical stores are just as important. Digital tools such as social media allow retailers to build a personal and customized relationship to customers.

A good example is Instagram, a photo-sharing app where fashion influencers promote products, give insights into their lives, show how cool it is to use a product and give sneak peeks into upcoming product launches.

For companies, it's a whole new opportunity of product placing. The first thing potential customers do when they see a post is click on the link in the bio and visit the shopping website.

It gets even more interesting. Most customers browse through the website, willing to be inspired by maybe even more than just what they've seen on Instagram, but then they go to a physical store to buy the product. Eventually, they want to experience the product before making a decision, liking the tangible and sensory elements of a purchase. So how about in-store entertainment in the form of virtual reality - interactive, touchscreen mirrors in fitting rooms that show you a shirt in different colors; visual and auditory senses that makes you feel like going through a forest while looking for a new, fall seasoned coat? For retailers, the key is to combine online and offline shopping - the best of both worlds.