The job of retail leaders is to understand how to inspire the consumer first and foremost, ensuring your entire team are internally aligned with the 'anchor' reason 'why' a consumer chooses your company over your nearest competitor.
Those that can do this consistently always maintain a commercially competitive advantage.
Twitter, and TikTok partnered with retailers and brands in 2021 on livestream shopping events.
A trend that is predicted to gain further momentum in 2022 and beyond
"We told you that marketing in the metaverse was a trend that started in 2021, and experts are certainly predicting that it’s going to become even bigger in the next year as brands launch more digital stores in the virtual world"
But it isn’t just the ecommerce retail landscape that is expected to shift:
Deciding between buying something online or in-person is a constant struggle for shoppers.
provide a level of convenience, but the inability to physically touch or try on a product can cause buyers to hesitate.
Getting customers to enter your brick and mortar store is only half the battle. Providing an engaging in store experience makes up the other half.
Just because someone walks through your doors, that doesn’t mean they are guaranteed to buy.
While traditional malls have been declining in popularity in the last several years, Forbes predicts that “scaled-down” versions are emerging in popular chains through “store-within-a-store” (SWAS) formats, which could see a “mini-revival” in the upcoming year. Something that can now be seen and experienced via the 'Flannels' format being rolled out by 'Fraser Group' and further evidenced with hard numbers.
On the one hand, the CMO.com report uncovers an industry that is becoming increasingly led by and reliant on technology, with 60% of millennials saying that they’d be happy to buy from a chatbot, and 45% of under-20s more than willing to try voice-activated ordering. “Hey Siri, I need a ramen burger, an IPA and some beard oil delivered asap.”
This has led to retailers racing to embrace the next sales-enabling technology, whatever that may be, with 28% of retail executives consider Virtual Reality and Augmented Reality as exciting opportunities for the years ahead.
But while VR and AR may capture headlines, the reality, not to mention the greatest gains, may be somewhat simpler - even when it comes to parting digital natives from their money - because 77% of Gen Z shoppers confess that they’d prefer to purchase in-store than online. source; Speakap.com
The rise of showrooming is leading to a renewed focus on the retail environment itself, with 44% of retail executives stating that improving the in-store experience is a key strategic priority for their organisations.
The future, in all likelihood, is neither totally digital or absolutely physical, with the winners in retail understanding the relationship that exists between all aspects of their brand and their customers. It’s a concept that’s being termed “Unified Retail” by industry thought leaders.
Consumer's don't think in tech silo's, they don't think in channels, they're all very selfish, they just want to learn more about you, and then choose the best way to 'buy' from you in a way that works best for them.
Your job is to figure out how to do that, and knowing the 'WHY' consumers should choose you over a competitor is one of the biggest and ongoing roles any company/brand can do.
A trend that is spreading across Europe and it’s definitely the case in the UK.
And while many retailers are now responding to it by investing in digital, the really progressive retailers with a clear strategy - the likes of Apple, IKEA, Amazon and Rituals - understand that the in-store experience needs to be just as informative and inspiring as the digital experience, with store assistants being trained and entrusted as representatives of the broader brand and not only there to stock shelves and operate the check-out desk.”
https://www.linkedin.com/pulse/wouldnt-nice-way-combine-online-in-store-shopping-stephen-sumner/
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