What is Store 3.0?
Margaret Case Little, Director of Communications for NRF, asked that very question in a blog post for NRF 2012 "Retail's Big Show" today.
The answer is simple:
- Store 1.0: Brick-and-mortar store (in-store).
- Store 2.0: Online shopping (e-commerce).
- Store 3.0: Multi-channel retail (in-store, e-commerce, m-commerce, mobile apps, social media, etc.)
"How can traditional brick-and-mortar retailers stay relevant in the changing retail space?" Little asks.
Alison Kenney Paul, vice chairman and U.S. Retail and Distribution leader at Deloitte, says that over the next few years, shares of brick-and-mortar retailers are expected to decline 28%, while online is expected to triple.
Nevertheless, 79% of retail executives said the brick-and-mortar store is still central to shopping experience, Paul adds.
"The bottom line: Brick-and-mortar stores are not going anywhere," writes Little. "They just need to evolve to meet the changing consumer."
At iQmetrix, we've developed our XQ Interactive Retail solution to meet consumers' desire for a Store 3.0 experience. XQ brings elements of online and mobile shopping into the brick-and-mortar environment.
XQ Interactive Retail transforms the in-store experience with applications that engage, educate and guide shoppers through the buying process.
The XQ Interactive Retail suite showcases products and information on dynamic visual displays, allowing customers to browse in an interactive manner. These eye-catching displays, filled with rich, engaging media, add a “wow factor” to any retail space.
To learn more about XQ Interactive Retail, visit us at Booth #2859 at NRF 2012. We'll be happy to show you how the product works and how it can help you deliver a "Store 3.0 experience" to your customers.