Ok, your stores never actually went anywhere, but the role of the brick-and-mortar store was eclipsed by the allure of ecommerce and the potential of digital technologies in recent years, leading many to proclaim the store is dead.
But in this new omnichannel world stores play an increasingly critical role in the delivery of a superior retail experience. Stores are where shoppers immerse themselves in unique brand experiences, where they touch and feel products, and, the vast majority of the time (90% to be exact), where they make their final purchases.
A leading big box retailer recently calculated all the different supply chain variations related to a quality omnichannel retail practice and found 85% involved the store. Stores aren’t going anywhere.
Having said that, retailers have some work to do. To remain viable in today’s changing retail climate, brick-and-mortar retailers will need to think, act, and execute differently. They will need to become more agile, local, and precise when it comes to merchandising execution to ensure each store is positioned to capitalize on the trends driving customer behavior.
The store experience needs constant reinvention as new technology advances and customers’ expectations continue to shift at a rapid pace.
To gain some insight into what exactly those trends are, RBM sat down with thought leaders from across the retail industry to get their view. From those interviews, a set of common themes emerged. The results of which we used to inform our latest eBook entitled The Store Is Back.
From empowering employees to bridging the gap between mobile and brick-and-mortar, the ability to adapt within the changing retail market will ensure increased growth and improvement, and continuously put retailers ahead of the competition.
The store experience needs constant reinvention as new technology advances and customers’ expectations continue to shift at a rapid pace. While developing retail strategies, retailers must consider some, if not all, of these emerging trends to create a superior and memorable experience that connects customers to their brands.
Download The Store Is Back today.