While the so-called decline of the bricks-and-mortar store has been touted within circles for years; e-commerce giant, Amazon, has just opened its first physical store. As online and physical stores merge, the introduction of omnichannel retail solutions becomes crucial for physical retailers to create a seamless experience for the consumer.
Technology changes at a very quick pace creating a digitally saturated society. As consumers become more technology dependent it becomes harder for retailers to maintain brand loyalty. Nowadays, a retailer needs to intrinsically know their customer while providing eye-catching and value-added experiences in order to make a sale.
Customers Expect Relevancy
A recent article in Time Magazine highlights the loss of attention span people have experienced over the past decade. On average we have an attention span that lasts around 8 seconds. That puts in perspective the small amount of time a retailer has to grab a customer’s attention if they hope to make a sale. One way of grabbing a customer’s attention is to use interesting digital signage delivering the right message at the right time.
Customers Seek Out An Experience
Customers have the ability to purchase whatever they like without ever entering a physical store, so why would anyone want to leave the comfort of their home to purchase an item they could buy with a tap of their finger? Simply put, retailers need to create unique customer experiences. Leveraging what customers want and need by creating specifically tailored retail experiences is the key to success -- the store must become a destination.
The store must become a destination.
Customers Demand Personalization
As society increasingly becomes me-centric, stores now offer in-store selfie promotions, contests that offer the customer the ability to become insta-famous or post-shopping personalized marketing campaigns for people who want to feel the shopping experience was created just for them.
Customers don’t want to search around for a specific book or a shoe in a different color. A simple answer is to implement an endless aisle solution that not only offers physical retailers the opportunity to display a large amount of product while saving on space but also gives the customer the opportunity to customize their order, see reviews and related products.
As retail continues to evolve and people become more digitally knowledgeable, the importance of leveraging digital data will be crucial to the success of both e-commerce and physical retailers.
The importance of leveraging digital data will be crucial to the success of both e-commerce and physical retailers.
The retail experience will continue to change as digital and physical stores merge. Retailers will be successful if they are able to understand customer data, create a great customer experience and a consistent omnichannel experience.