Retail is dead. Long live Retail!

By Juha Porrassalmi

Posted on 11th August 2021

In a growing online world, people still buy in-store. But people don’t just shop in-store, even when they’re inside a store. Instead, shoppers check prices, compare products, research reviews, and consult social media before buying. A customer might have a preference between online and offline purchases, but when it comes to how they buy, very few people exclusively shop online or only in-store. So, the future of the industry will be omnichannel.

Just being present in both channels isn’t enough. Not in today’s world where consumers don’t make a purchase instantly in a store. And it’s an even bigger problem if you don’t even have s store. Think for a second – why do you think, for example, Amazon is making first steps into the world of brick-and-mortar retail?

Amazon has understood that it is critical to enable customers to shop however and where ever they prefer. Consumers want to connect with your brand both on and offline. The majority of shoppers hit multiple touchpoints before making a purchase decision.

Since transactions can happen anywhere, the retail environment in today’s world has a totally new purpose. The biggest new purpose of retail stores is to offer an experience that isn’t available online.

Consumers have slowly, but surely, been moving away from strictly shopping products into seeking more engaging experience. This evolution is full of opportunity for smart retailers. When a retailer is able to deliver an experience that meets and exceeds their customers expectations, getting them excited about it and making them spread the word. This leads to brand loyalty and positive word of mouth – Phenomenon.

Omnichannel is the new black.

When it comes to shopping, we have more choices and more avenues to buy than ever before. Smart retailers know online and offline shopping both have a purpose.

Omnichannel places the customer in the center of its strategies. True consumer-centric omnichannel integration has never been more important for success. The key thing for this is meaningful and inspirational integration across all channels, including mobile applications, online stores, marketplaces, social media, direct communication and physical shopping environments.

Omnichannel is vital for captivating consumers and keeping them engaged from first impressions to the eventual point of sale. Focusing on providing excellent service across sales channels will pay a big dividend.

The Bottom Line.

Retail is really anything but dead. Both traditional brick-and-mortar and online retailers know that physical stores give retailers the opportunity to connect and engage with their customers on a deeper level.

We are specialized in providing retail omnichannel strategies & implementations in all different types of shopping environments. If you are into that – let’s talk.

One more thing… we excel at helping online operators build up the most efficient retail presence.


ABOUT THE AUTHOR

Juha is an experienced retail strategist, visionaire and concept planner. He is a team player. He loves to challenge his team and Juha is an experienced retail strategist, visionaire and concept planner. He is a team player. He loves to challenge his team and himself to excel in every assignment. Many retail concept-cases for major retailers in Finland and in Scandinavia over three decades have proven it. Passion is his fuel and an innovative team ignites his fuel.


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