Five Trends Retailers Need to Realize
Updated: Jun 5, 2019
Are we losing retailers and our stores? How do we shop and what is the future moving to? As the world changes, the way we use to do thing change.
There are five trends that brick-and-mortar retailers need to realize
1. Show room: Brick-and-mortar retailers must embrace the change. It’s an opportunity to engage in-store shoppers to grow revenue and loyalty both online and in their physical location. This will require better trained and outstanding customers service to leverage local events, add on salability, and cater to local clientele.
2. Order fulfillment from stores: One asset of reaching all your client’s needs is in the customer’s ability to order online and then pickup at a local store. This requires traditional retailers to examine policies on staffing, compensation, task assignment, inventory planning, and sales reporting. The thought process of a retailer is ever evolving with these new types. Buyers want the ability to pickup or exchange at a physical store. Buyers also want to shop with the convenience of purchasing something online but can also walk into a store and see what they are buying.
3. Evaluating Store Size: The changing role of stores from big boxes to destinations brand experience. Retailers will need to reevaluate and rationalize their real estate. Retailers must understand the new role of physical channels at every level and adjust store sizes for efficiency. The retailer must deliver the “experience” factor to consumers. Experience is everything.
4. Social networks: Conversely, retailers must leverage social networks to build relationships and influence what and how consumers buy.
5. Using Technology in-stores: In addition to social media, retailers must begin using technology within their stores. Like mobile apps or interactive store displays that contribute to new shopping experiences.