Consumer Experience is the Future of Brick- And – Mortar Retail

The physical store is still a critical step in retail journey

With passing by of each year, where digitalization and e-commerce is on the rise has lead many to believe “Is Brick-And-Mortar” ageing to its demise?

Online shopping benefits are quite in number but physical stores still hold a strong key advantage over e commerce, especially for fast moving consumer goods. Aside from immediate fulfilment of shopping need, the gratifying instore experience still lure greatly to attract shoppers.

While brick and mortar retail has been hit hard during COVID 19 alongwith with rise in e commerce but simultaneously energized retailers to defend them in this crusade with new business innovative models adopted by store operators to retain their customers.

Infusing technology in instore consumer experience

Instore digital enablement options can create a huge impact on convenience and personalization of online into brick- and-mortar stores for consumers. However, in this competitive environment retailers are adding value by using digital tools assisting consumers to take control of their experience alongwith boosting sales, customer loyalty and retention. Today, only a small percentage of customers around the world are exposed to digital enablement options with in stores, while willingness to use them is quite high if made available.

Maintaining loyalty in this fickle world

Consumers have more shopping choices than ever, and as channels proliferate, protecting and building store loyalty is no easy task. To keep customers coming back for more, it is crucial to understand what drives them to switch one store for another or shift to e-shopping mode. Money makes the world go round so it is no surprise that price is the top driver of store switching behavior whereas quality, convenience and selection are main determinants for retailers to retain customers loyalty.

Optimal decision making with real time data

While in-store digitalization is optimizing consumer experience, in all respect it is shaping into brands and retailers best friend, simply because it is creating opportunities for stores and brands to gather as much useful consumer data as possible.

Instore technologies such as navigation apps powered by Bluetooth (BLE) beacons while help shoppers find products in a guided useful immersive way, on the other hand enable brands to promote their products right on the shopping carts enticing purchases and gather insightful data in the form of heat maps with in the store.

Winning in the new retail environment

Retailers can bridge the gap between worlds and succeed in the new retail environment by adding value through digital flavors.

When developing digital initiatives, retailers and manufacturers need to consider whether they’re creating value and clearly communicating the benefits to consumers.

Retailers and manufacturers should continuously monitor performance to understand how shoppers are responding to marketing touch points and ensure they’re optimizing their touch-point mix to yield the highest ROI.

Adaption of technology can help different categories in different ways. From the use of artificial intelligence to automation via RFID technology with a linear approach retailers can achieve greater sales and reduction in operational cost.