CReATION: Virtual existence no longer enough to convince consumers

Dotcom companies need an actual presence and identity in the marketplace to verify their existence in the consumer's mind, according to British design consultant Rodney Fitch. "In 10 years' time, many of today's dotcom companies might well collapse or go bankrupt," said Mr Fitch, chairman of Rodney Fitch Asia. "Most people's concern is with the loss of trust in cyber brands - they would trust a brand they can actually 'feel'." At the end of the day, dotcom companies have to open retail outlets at street level to convince people that they are a real company and not just a virtual entity on the 'Net. Design is a crucial element in helping e-based brands become "front of mind" companies with consumers in the cluttered dotcom market. It is important to make people understand that dotcom brands are "real" and they have "real presence", according to Mr Fitch, who believed big dotcom players such as Yahoo and Amazon.com will likely set up retail shops in big cities. E-based companies have to become a retail portal - whether they are selling food, banking services, furniture or travel - as a sustainable business model to compete in the marketplace. Rapid development in e-banking has reduced the number of retail banking outlets level at street level - as a result, it is becoming more important to use the retail environment to create brand identity. Mr Fitch said banks were applying more creative design concepts in retail outlets, in a bid to maximise their brand impact on consumers' minds.

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