The impact of e-commerce created a major explosion and change to the retail industry. And ever since the first product was sold online, we knew our lives were changed forever. At first it seemed as though the days of brick-and-mortar businesses were numbered. But it continued to exist because many we still fighting for it.
Nowadays, everything seems to depend on technology such as the internet. It is really hard to do things the way they used to be done. Having physical stores requires a struggle because an even greater competition is existent. And it is somewhere we cannot physically see.
So, here, we’ll discuss what the future of brick-and-mortar stores will look like and how to adapt and make changes in order to keep your business growing in the time of continuous technological innovations.
Providing Better Customer-Experience
Brick-and-mortar retailers need to offer so much more than “stuff.” Shoppers want engaging and personalised in-store experiences, ones that go beyond the traditional retail space. A growing number of major retailers have started offering complimentary workshops and classes to client.
Pop-up shops are another way to attract customers to your store for an experience they wouldn’t find online or at any other retailer. These temporary, short-term retail events have been a growing industry, accounting for approximately $10 billion in sales, this according to many major companies who have all started hosting pop-ups as a way to increase brand awareness and draw customers in store.
When it comes to brick-and-mortar retailers, hosting a pop-up shop at your store not only creates a unique and limited experience for clientele, allowing you to potentially attract new customers, but helps you test out new revenue streams and develop relationships with other retailers in your community. Consider partnering with another business selling complementary products or items with a similar aesthetic. In order to keep customers coming back and attract new ones, it’s time to start thinking beyond the typical sale and start offering your customers immersive, memorable experiences.
Innovate Personalised Shopping
The future of customer retention for brick-and-mortar stores lies in personalised experiences. One way is to offer tailored shopping experiences or personal shopping services. Another method is to truly home in on who you’re trying to target as clientele and build a shop curated specifically to them.
Utilizing Advanced Tools
Customers are more tech-savvy than ever, and so much of the reason why e-commerce businesses are crushing it is because shoppers are increasingly comfortable in a digital world. In order to survive, brick-and-mortar retailers must start incorporating digital elements into the in-person shopping experience.
Radio frequency identification, or RFID, is also useful to retailers and shoppers alike as an easy way to track inventory digitally. Similarly, Augmented and virtual reality as well as wearable tech are already popular in the gaming and entertainment industries. It’s only a matter of time before shoppers expect to see their retail experience transformed with this technology. Augmented reality may assist customers in navigating through larger stores or provide additional product information, while virtual reality can allow shoppers to seamlessly experience and “test” products before purchasing them.
Technology enables a smoother, more personalised experience for shoppers in store, and in return, helps retailers understand their customers and provide a better experience.