The future of retail: where can I find them?
The rise of the Numbers, along with economic uncertainty, has changed the path of perpetual procurement, creating a new challenge for anyone selling through retail channels. We will address these challenges in a series of four blogs called the future of retail. With consumers changing their priorities and buying patterns, the new retail model is emerging at an overwhelming rate. So we started our journey to check where the retail chamber found shoppers tomorrow.
In today’s retail industry, there are more channels where shoppers visit more retailers looking for products and less loyalty to brands. The market is hyper-competitive, which means it is crucial to anticipate and activate the needs of shoppers. Research and analysis of the behavior of shoppers must continue, so that retailers and manufacturers can adapt to changing needs. However, the solution must be implemented as part of the business strategy considered to ensure that they satisfy the shopper but are also profitable.
Develop multi-channel strategies for customers and retailers
Macy’s, an American department store, is creating a customer-centric experience that offers a seamless experience in stores, online and mobile phones to attract and attract customers. All of these channels are interchangeable and are linked to their loyalty accounts. Another retailer Best Buy (Best Buy) have their mobile applications and their incentive plan, encourage shoppers to register into the shop, and through the application to Buy home delivery or store to order.
In the UK, food retailers Tesco (Tesco) in the past decade has been walking in the forefront of digital innovation, by adopting the method of all channels, increased the first in the retail channel e-commerce and mobile commerce. However, the success of this strategy has recently been shown to be at the expense of profits. Tesco already has the cost of providing food and grocery subsidies to millions of British households.
If we look at France, we will see that this approach has been managing delivery costs and focusing on improving customer satisfaction. Click&Collect has been used to keep payments to retailers, and shoppers see service as a benefit. In many countries, they have found that Click&Collect is more flexible because it may not be convenient to live in the waiting room.
The channel preferences and use of shoppers vary from country to country
Research from FutureBuy explores why shoppers use different channels and the host country seems to have a significant impact on their preferences. For example, when buying a mobile phone, German consumers mainly buy online, mainly to save money (62 percent) and better options (50 percent). Japanese consumers bought in stores earlier (62 percent) and felt them (54 percent) before buying. The Japanese market is very advanced in technology, but compared with German consumers, purely online shopping consumers (20%) is much less, because in Germany, four over ten (39%), the consumer preferences of online purchase. Therefore, it is very important for international retailers to adjust their strategies to local markets.
Insight into the needs and behavior of shoppers has taught people how to design stores and online business platforms. Apple, for example, a recent focus on buyers shopping on the Internet, rather than shopping in their stores, and put the store brand experience center – people to try the new product, discuss with the sales assistant items, customer service. Instead, pet owners use their e-commerce sites to attract customers to their stores to build advisory relationships as a platform for selling quality products and services. The key here is to understand how consumers and where to buy different products and ensure that channel strategies meet those needs.
In today’s challenging and competitive retail environment, digital and physical as well as many way of purchase, is to ensure that at the right time in the right way to provide the right product to the right person. To win, companies need to invest in shopping to become a seamless and convenient part of people’s lives.