Traditional Retail Is Not Dead – It’s Leveling Up
We have all heard stories about the retail apocalypse. There have been numerous articles and blog posts about brick-and-mortar stores losing their share in the commercial space as customers make their purchases via online retail more and more every year. However, is it really that serious or is it an exaggerated interpretation of the changes that traditional retail need to keep up with in order to stay alive? Truth is, some large and well-known brands are facing hard times just as in every other industry. All in all, physical retail is not dying, it just needs to step up its game and accept the challenge to “level up”.
Despite the rapid rise of e-commerce, people still care about shopping as an experience. Now it is in the hands of retailers to give people what they want. Some will succeed while others will fail, and the competition is tougher than ever.
We have put together points which you, as a retailer, should draw attention to in order to give your customers the best in-store shopping experience:
To compete with e-commerce and improve sales, retailers should be more prone to using digital technology for their day to day operations in stores. Interactive elements such as location-based notifications, in-store navigation apps, barcode scanners and video screens are a great way to create a new retail experience. One of the easiest and most effective methods of modernizing a retail location is to add free Wi-Fi. The Wi-Fi can have the homepage set to the retailers business and, if there’s a lounging area, customers will stay at the location significantly longer. All these innovations make a great effort to help retailers improve service and strengthen their relationships with customers.
Data Is the New Bacon
With today’s advanced technology solutions, collecting data about your customers is easier than ever. This creates the possibility to get accurate and complete insights about customer behavior as well as store operations. You will get a clear, data-driven picture of your customers’ moves and preferences. With that information, retailers can make better decisions about store design, staffing, stock selection, and a lot more. Data really is the new bacon so you can make the most of it.
Top-Notch Customer Service
The importance of good customer service is often forgotten in the retail industry. To give your customer a full shopping experience, you should keep in mind that the way you treat your customers plays a big role in it. Investing time in training your customer service representatives has huge benefits for your company’s image. Given the competitive marketplace, try and identify some sort of unique approach, a top-notch customer service could be the niche that distinguishes your company from others.
Although some shoppers will choose another retailer because they offer goods at lower prices, there are still numerous customers who value enjoyable shopping experience over pricing. If you manage to deliver a great experience by keeping in mind these three aspects mentioned previously, you can be sure that people will tell others about this. Word of mouth is a powerful way of marketing and can improve your company’s reputation in a great way. Also, make sure you promote your great customer experience through social media, every little helps.