Bobby Marmahat, CEO of Radio, explains that as the line between e-commerce and retail becomes narrower, it needs to maintain its unique charm, from smiling store hosts to digital storefronts. Multiplication.
Finding the edge in retail is not as easy as it once was. Consumers can’t get the best price by opening an app or visiting a few websites. You can order anything from a Bose headset to a Maine lobster tail in just a few clicks.
And yet, our in-store experience 2021 Report Available 48% of consumers are all the same and still choose to buy in-store. Clearly, brick and mortar retailers offer what digital commerce cannot. In-store shopping experience – a sense of community, the motivation of a particular store, or the urgency of shopping – is still something that almost half of consumers still choose.
Still, retailers will be foolish to reject more than $ 4 trillion in e-commerce sales by 2021. The stagnation in brick and mortar retail has been a loss-making process, perhaps in five years or less. The rapid closure of the epidemic has shown how fast retail trade can be.
As we continuously monitor consumer tastes and work directly with thousands of retailers, we have entered the three keys to continued retail growth.
Convenience crisis- Non-negotiable for time-consuming consumers
Looking for an impossible task? Try to find a customer who enjoys waiting in line for a test or who has a high store-bought experience, looking for something fruitless.
Do some consumers enjoy neglecting products in a warm, vibrant retail environment? of course. But consumers should always have a fun retail experience and high quality choices.
Consumers have told us that the speed and convenience of online shopping is the number one reason why digital retailers prefer digital and brick-and-mortar locations. Offering your customers comfortable driving features – in-app purchases, side-scrolling, online shopping, in-store, self-verification – is the only way to surpass online competitors.
Consumers today You feel high time limits More consumers than ever before. Many sections of the purchasing public, especially those who are busy as parents and young professionals, are willing to pay more for convenience. They value the time they spend waiting in line, otherwise they will spend that time working or having meaningful relationships with their children.
If your company does not place the same price on the buyers’ time, you are deliberately rejecting what you believe is time money.
While personalizing privacy concerns, consumers want to be recognized
Retail companies are in a difficult position regarding data privacy. Consumers have a general skepticism about sharing – often carelessly – about their very personal preferences and habits, as long as consumers demand increasing convenience (and no doubt it helps to provide personal information).
75% of consumers are concerned about the privacy of their in-store and online shopping history. However, 42% of consumers say that lack of privacy in their shopping experience will deter them from making a purchase.
Each retailer must determine the appropriate balance of privacy and convenience. Consumers may have targeted advertising outside of the site in connection with your brand, but the same customer may appreciate product comments based on their previous shopping habits.
Digitization, including information, is essential for competitive retail today. If customers receive personalized discounts when shopping at your store, they will eventually link your brand to savings. However, retailers are becoming increasingly aware of the potential for retail acquisition, and you should not pretend.
Deloit explains how strong, clearly defined privacy policies protect your organization from PR nightmares. Such policies can provide your customers with the peace of mind they need, ensuring that you are using their personal information to enhance the experience in the store, not for malicious purposes.
Digital experience in store must be digital.
Most of the beauty shopping in stores is not digital. They are physical structures that exist in the real world and are filled with real people. In short, a brick and mortar store is not an app or a website – it’s more than that.
And yet, you cannot talk about effective store experiences without demonstrating the importance of digitalization. With the help of consumers today, from convenience to immersion and personalization, digital assistance is available.
Take self-examination, for example. Our self-service status 2021 checks Report Eighty-five percent of consumers who associate long lines and waiting times see self-checking with a cashier as a quick way to buy goods. This is an example of how consumers view digital in-store experience as a convenience.
There is a delicate balance with digitization. Tech, from digital signage to QR codes scanning for valuable product information, should be the perfect shopping experience, not the main attraction.
As long as you are able to preserve the experience in the store while giving real value through digitization, your company will combine old beauty with new taste.
The lines between e-commerce and in-store retail are getting thinner than ever. Consumers are so comfortable-minded that they are willing to give up their data if it allows them to get the products they want quickly. They don’t have to worry about collecting personalized offers on the road.
Brick-and-mortar store owners need to maintain their unique charm by designing features that digital storefronts can’t replicate. But we do know that consumers are often reluctant to sacrifice just to buy in a store. You need to bring tech-led conveniences into the in-store experience to deliver your customers a more efficient, personalized shopping journey.
Digitization and personalization should not feel invasive. The digital product display or scanning discount code here can be highly priced for your customers in terms of brick and mortar. Over the next decade, there will be a smart balance between increasing in-store digitalization and in-store appeal.
Bobby Marmat is the CEO of Radio.