What’s next in the world of holistic retail?
1. More Original Digital Brands Entering the Physical Store Space
Ten years ago, it was cheaper to reach customers online rather than pay rent for a store. Today, that is no longer the case. With rising digital advertising costs, acquiring new customers online has become expensive. This means that many brands may find it beneficial to reduce expenses through a physical store.
2. Continued Evolution of the Consumer Journey to Become More Inclusive
The consumer journey continues to become more inclusive, incorporating a mix of different channels. Retail is no longer limited to physical stores or online shops; it has become an integrated experience that blends the digital and physical worlds. Customers can now shop anytime and anywhere, and the primary goal of physical stores is not merely the transactional process but to provide an enjoyable and interactive shopping experience.
3. Expansion of the Role of Physical Store Employees to Become Inclusive
In the past, one of the main advantages of visiting physical stores was access to specialized sales staff. However, virtual shopping allows shoppers to benefit from the advantages of shopping in physical stores from their homes. Customers can now ask questions, experience products virtually, and receive expert recommendations just as they do when shopping in physical stores. 41% of consumers want to chat live with the brand while purchasing products online.
4. Continued Growth of the Product Showrooming Trend
The product showrooming phenomenon is one of the ongoing trends in holistic retail. This trend allows customers to visit the store to test products, get information from sales staff, and then return home to complete their purchases online. Brands can leverage this phenomenon by enhancing the in-store experience through improved customer service and streamlined payment and shopping processes.
5. Social Selling Through Video Content
Social selling through video content is an emerging trend in holistic retail. 54% of consumers want to see more video content from the brands they support. Video consumption significantly influences purchasing decisions, with 50% of consumers stating that videos helped them decide on the product or brand they wanted to buy. Brands can capitalize on this trend by using video content for selling via social media platforms like Instagram, Facebook, and TikTok.
6. Tracking Customers Across Multiple Channels
Tracking customers across multiple channels is an important trend in holistic retail. Marketers seek to ensure that their online campaigns lead to increased sales in physical stores. Brands can benefit from this trend by tracking consumer behavior across various channels and analyzing the performance of their integrated campaigns.
7. Focus on Community
The focus on community is an important trend in holistic retail. Customers are seeking a sense of belonging from their favorite brands. Brands can take advantage of this trend by bridging the gap between business and customer and by giving customers a role in the shopping experience.
8. Application of Customer Data in Physical Stores
The application of customer data in physical stores is an important trend in holistic retail. Brands can benefit from this trend by utilizing customer data to enhance the shopping experience, develop products, and strengthen customer relationships.
9. Contactless Transactions
Contactless transactions are an important trend in holistic retail. Brands can benefit from this trend by offering contactless options for customers, such as mobile payment and curbside pickup services.
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