There’s no denying that retail has been hard-hit lately. Struggling through lockdowns, restrictions, curbside pickup, and capacity restrictions, businesses have had to adapt, evolve, and reinvent themselves completely.
On top of it all, they were already struggling to compete with online giants and cheap shipping. Now, many are faced with a new landscape where customers have become more accustomed than ever to shopping online, while ongoing work-from-home arrangements have upended where people are willing to shop and travel in their day-to-day lives.
As the world slowly returns to normal, retailers are fighting back with innovative ways that they can elevate the retail experience and bring shoppers back. Find out what strategies industry leaders are using to make themselves competitive again.
#1 Blending Digital with Brick and Mortar
Merging opportunities between digital and brick and mortar goes way beyond in-store pickup. Interactive digital signage is making it easier to provide an enhanced in-store experience. As convenience purchases increasingly move online, retailers are narrowing in on luxury and lifestyle purchases, as well as choice shopping – when consumers use shopping as recreation.
There are many avenues that retailers can take to enhance the experience with digital signage. Many blend online shopping through digital kiosks, allowing consumers to search for inventory that may not be on display or find more product information without having to speak to an employee. Others use digital signage as a way to create a more upscale environment.
Working with pop up digital signage companies, these retailers are creating custom displays and even interactive experiences for both permanent installations and limited-time events.
#2 Data Analytics
Smart data collection is now possible in the brick-and-mortar space thanks to the evolution of sensors and their integration in digital signage. Retailers want to know more about the people who pass through, such as:
- What does daily foot traffic look like?
- How many people interact with digital signage?
- How long do they engage with digital signage?
- How do customers flow through a retail space?
The more information retailers have, the better they can optimize store design, sales, and in-person experiences.
#3 In-Store Pop Ups
Commercial property owners may find that pop up shops can make the most out of empty retail space between leases, but they’re not the only ones who can benefit from changing things up.
Retailers have been making space on their floors to collaborate with pop ups and entice new customers in. These collaborations can take many forms: a clothing boutique working with a pop up record shop or a bar doing pop up collaborations with local chefs.
The key to success is finding a partner who’s cool, exciting, and fits well with your business.
#4 Creating Experiences
When people go out shopping, they need something more than just the products they can order from the comfort of their own homes. Retailers are doubling down on events to draw people in-store. Look no further than the big chains, from hardware stores running classes on home maintenance to craft stores teaching workshops.
In addition to classes, giveaways, entertainment, and gamification experiences all provide consumers with something different to lure them in.
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