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.
