Retail stores are more like platforms catering to various missions, stakeholders

New Ideas in MarketingEssential news for marketers, summarised by YouGov
December 02, 2021, 2:00 AM UTC

Collaborating with communities on circular, repair, and upcycle projects can help retailers drive sustainability efforts and enhance consumers’ in-store shopping experience.

Brick-and-mortar retailers are being compelled to adapt to digital transformations as more and more consumers use ecommerce. Many retailers are now rethinking the functionality of retail stores and incorporating digital tools to stay relevant.

While physical retail will continue to be the most significant channel, storefronts are no longer a single touchpoint in the consumers’ buying journey, according to Jason Goldberg, at Publicis. More retail brands are now supporting online fulfilment operations or branded experiences. Providing personalised, immersive, and collaborative concepts can help retail stores boost in-store experiences in the future.

Future retail outlets will be equipped with technology to facially identify consumers on their entry, thereby driving highly personalised in-store experiences. Immersive experiences for products that require deliberation like electronics and experiential centers for categories like sports gear can help retailers optimise shopping experiences and boost sales. Reassessing long-term strategies and using data to create agile solutions can help retailers become multidimensional, transactional, fulfilment, engagement and branding spaces.

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