Part five of our five part series exploring trends that are shaping brick-and-mortar retail experience. You can read all of the trends in The Store Is Back eBook, courtesy of RBM Technologies.
With cities expanding and more neighborhoods developing, people are driving less and looking to nearby stores. In 2016, more retailers are moving closer to where the shoppers are, which means transitioning to smaller stores in more urban areas.
The rise of urbanization is forcing retailers to transform their merchandising strategies. Retailers are beginning to think small, and are accommodating the local culture of the neighborhoods they inhabit. However, shoppers’ expectations are getting higher. Retailers still need to make the breadth of products in their larger format stores available within the smaller footprint.
“Associates have iPads to make our full assortment available instantly. If you want a new color, you don’t have to search another store, we can help you purchase it overnight.”
Jeff Fisher, Global Store Experience Director at Sunglass Hut
Adopting digital applications that optimize product mixes and localize visual merchandising is critical to ensuring the inventory their customers want will be available. By producing targeted campaigns and offering locally relevant merchandising, each store will develop an authentic experience and personal customer connection. What’s more, through digital devices, retailers can offer, order and deliver merchandise they can’t physically stock.
Overall, the space within brick-and-mortar stores will shrink, but customers’ demand for product range will not. Retailers will need to be flexible for the customer who expects a locally relevant, personalized retail experience with an extensive product assortment.
To read all five retail trends, download The Store Is Back today.