How to Revamp In-store Strategies?

How to Revamp In-store Strategies?

By Retail CIO Outlook | Friday, December 13, 2019

With the holiday season here, it is essential for retailers to revamp their in-store strategies to spur repeat shopping.

FREMONT, CA: In-store shopping is experiencing a revival as retailers endure and provide consumers with exciting and convenient purchase experiences. Referring to a report submitted by Blackhawk Network in September 2019, 28 percent of the internet users in the US stated that they shopped at stores frequently this year in comparison to 2018, and 63 percent said the frequency with which they bought in-store has remained consistent over the past two years.

Specific segments of brick-and-mortar have become archaic, numerous retailers, both incumbents, and upstarts are doing a commendable job in evolving the in-store experience to stay at par with the requirements of the modern consumer. The word experiential retail is commonly heard, but the definition is not known by many. In some cases, it emerges to be more entertaining or interactive retail experience, but every retailer should not aspire for it. Creating just a simple aura and ambiance where people will be willing to spend more time is a better option to grab maximum attention.

According to a report, 82 percent of US boomers of the age group 55 to 74 said that once a month, they purchased from a physical store. The popularity of in-store shopping does not end there, a report from consumer research platform CivicScience stated that nearly 49 percent of millennial internet users of age between 25 to 34 said that they do the majority of shopping in-store.Top Merchandising Solution Companies

The most common reasons that guide the Gen Z internet users from the US bought online, pick up in-store (BOPUS), which included wanting their items quicker than online shopping, needed the item immediately, and wanted to see the item prior to purchase physically. Last-minute shopping invites last-minute impulse purchases.

With the holidays here, the retailers delivering in-store experiences will not have to go extra miles to attract the customers. The retailers will be in a better position to engage with the shoppers at the moment and not only generate a higher basket total but also a higher customer lifetime value with return visits.

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