Reconciling the Online & In-store Journey
Overflowing street with stores is no more a sign of success and leadership. So how does the winning retail strategy look like in 2021?
Whilst we saw slow shifts in retailers’ strategies before 2020, COVID has definitely precipitated those and changed the face of retail the way we knew it.
Before, retail leadership was shown through the omnipresence of brands’ stores, but it became clear that this strategy would clash with the rise of e-commerce. This tendency got confirmed with online business booming over COVID.
Whilst it seems fair to say that physical-only retail is unfit for purpose in the 21st century, the reality is that physical retail won’t disappear either.
So what does the retail experience of tomorrow look like?
The retail experience of tomorrow is omnichannel: A seamless experience, regardless of channel or device. Customers will be presented with unlimited product choice and product information along with rapid search and checkout online whilst they will also be provided with a personal point of contact in-store where they can physically see and touch products.
62% of consumers choose to buy in physical stores because they want to "see, touch, feel and taste." (Forbes)
Over the e-commerce boom, Brands understood that stores needed to serve a purpose beyond the transactional purchase and become the physical anchor of the brand, a translation of their essence, the place where customers develop a sense of belonging, loyalty, and community.
73% of consumers are omnichannel shoppers who use multiple channels during the purchase process. (Harvard Business Review)
Many settled companies are now consolidating their presence through fewer stores but invest more into them to provide a unique and upgraded experience to their customers, whilst online native brands understand the importance of opening a store to connect on higher levels with their customers and prolong their brand experience into the physical world.
Companies are investing in blending the upcoming trends together to deliver a unique in-store experience: from technology with AR, VR, and in-store Livestream e-commerce events to premium queuing and upgraded checkouts. Amongst them, leveraging their in-store architecture and design as a differentiator and competitive advantage.
The ultimate objective is to merge technology, trends and innovative concepts, with Interior Design to create a unique Competitive Advantage and position the brand as a Leader in its industry.
The ultimate objective is to merge technology, trends and innovative concepts, with Interior Design to create a unique Competitive Advantage and position the brand as a Leader in its industry.
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