Invest in convenience to drive a store renaissance
Customers want their retail experiences to be driven by efficiency, convenience, lifestyle, and service
In this series, we explore how brick-and-mortar is more relevant than ever. As customers are using the physical store as an extension of their digital journeys, retailers are required to not only implement increasingly sophisticated digital solutions, but in many cases, re-design all or part of their stores and retrain employees to enable these new capabilities. In this blog, we examine how the store experience is driven by product availability.
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The store experience is driven by product availability.
Customers expect convenient and digitally seamless experiences during their shopper journeys. Much of the innovation taking place in the stores is coming in the form of new formats designed to meet a new set of imperatives driving shopper behavior. Customers want their retail experiences to be driven by efficiency, convenience, lifestyle, and service. Retailers are increasingly experimenting with new store models, especially smaller and immersive foot prints to drive the next generation of customers to their stores.
Top tech investments for product availability
- While customer Wi-Fi is mature compared to other in-store technologies, it is still a top 5 investment area for retailers in 2019 as retailers experiment with interactive customer Wi-Fi experiences, according to our Renaissance of the Store study, available in full here.
- Smart dressing rooms enable personalized experiences by informing consumers about complimentary or similar products for apparel and department store retailers.
According to the study, 45% of retailers surveyed are planning to change store layouts for better execution of their omnichannel strategies.
Retailers in real life
- According to the study, 45% of retailers surveyed are planning to change store layouts for better execution of their omnichannel strategies.
- One of the largest quick service restaurant chains is investing $3 billion to continue store remodeling initiatives to become a ‘Restaurant of the Future,’ with kiosk ordering, new table layouts, and dedicated parking for curbside pick-up.
- A nationwide retailer is remodeling stores to align local shopper preferences. They will be adding omnichannel capabilities such as storage for same-day delivery, curbside pick-up, and redesigned store layouts.