In the future (…near or far? …time will tell…) we will have two radically different types of shopping:
- shopping for everyday items
- shopping for specific, glamorous, out-of-the-ordinary items
Let me get into the details…
Everyday-item-shopping Continue reading
As Retailers perfectly know, store floor-space is a scarce resource and as such, it’s absolutely invaluable.
Unlike in the virtual world of online retail where space is not a factor, in brick-and-mortar stores each square foot is expected to make a certain amount of dollars – for example, according to data provided by eMarketer, a couple of years ago Apple Stores generated an amazing $4,798.82 per sq.foot, luxury jeweler Tiffany $3,132.20, while department-stores such as Macy’s made around $160/$200.
Is it true that offering Shoppers a branded Mobile App lets traditional Retailers easily enter the digital world, be omnichannel, look good, etc.?
Cancel “easily”, please…
…and let’s talk about some potential difficulties.
Potential difficulty #1
First thing first: let’s not count on 100% Shoppers installing our Mobile App on their smartphones – we first need to overcome an obstacle called proliferation of branded Mobile Apps, that is, Shoppers have to (utopically) install one branded App for each Retailer they visit (…store/shopping mall/chain of petrol stations/supermarket/…) – dozens and dozens of Apps, actually.
We already know that, as Ecommerce is booming, our traditional brick-and-mortar stores are losing their exclusive role of distribution-points for goods.
That’s a fact, but not necessarily a negative one: physical stores are not anachronistic, on the contrary Continue reading
We know that today consumers follow a dynamic, multi-faceted shopping journey, where they interact with various touch-points – stores, desktop & mobile websites, social media, Mobile Apps, etc.; this is what we define as an omni-channel environment, a new paradigm that has strong impacts on the shopping behavior and, consequently, on the selling process.
The point is, can retailers born to meet the consumers’ needs of the 20th century remain relevant in 21st?
…I’m afraid this is a subject that keeps a lot of people awake at night…
Too often omni-channel is described at a very abstract level; I prefer to be more practical and focus on Continue reading