CReATION: Virtual existence no longer enough to convince consumers

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