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The demand for retailers to step their game up is more apparent now than ever.
Most of us hear this day in and day out but why is it so important for retailers to shift their thinking? Consumer purchasing habits are changing and integrating digital technology in retail is the key to success in this new landscape formed by the consumer. It appears that it’s possible to never have to step foot in a real store because we are able to buy everything online from groceries to shoes. But this hasn’t stopped people from shopping in brick and mortar stores. In fact, research from the ULI found when it comes to Generation Y’s viewpoint 37% love shopping, another 48% enjoy it, 12% view it as a chore but can cope with it; only 4% hate to shop.
Shopping is a social activity. Just because shoppers have the option to purchase something on the fly with their smartphone does not stop them from popping into brick and mortar stores and buying in-store. There is a new wave of multi-channel shoppers. A virtual change room that shoppers could step into which would recommend clothes is not a crazy dream of the future anymore, they already exist. There are stores with digital shoppable windows which someone can walk by and purchase an item outside of store hours. The pressure is on for retailers to find new and enticing ways to pull in their shoppers and offer them a fresh experience that keeps them coming back. Retailers and brands can’t rely on how they attracted shoppers in the past and need to become innovators for gaining shopper affinity tomorrow.
We created an infographic to represent how consumer expectations and behaviour shifts are transforming the face of retail. Feel free to share it and pass it along!