Both brands and retailers have the significant challenge of attending to increasingly more demanding consumers, in a competitive sector where transformation has turned from a need into almost an obligation.
Therefore, where should the main players of the sector look to adapt to the new consumer habits? At HMY Retail Tech we have put together a list of the do’s and dont’s to give brands and retailers a competitive edge in the current market:
1. Customer experience
The customer must be the centre of any sales strategy, so we must use all the tools within our reach to offer them a positive experience that not just makes them buy more, but that makes them return to our store.
2. More experiential spaces
Brick and mortar stores must become spaces where the customer not only goes to buy a product, but where they go to have a memorable experience, which is what makes them more loyal to our brand.
3. On-line world at the point of sale
Customers today do not understand channels. They indistinctly buy online and in brick and mortar stores, so omni-channelling is a must, and offering a unique O2O experience is key.
4. Retail of the future in the present
We have been talking about the store of the future for years, but the future is now, so we must take another step towards the retail that we want to have in 10 years. Technology is vital if we want to offer customers the incredible and personalised experience that they expect to find in stores nowadays, so digitalisation at the brick and mortar point of sale is vital for ensuring the retail of tomorrow.
5. Artificial Intelligence
Increasingly popular and with more tools to build services in stores.
6. Essence, a huge value
Authenticity and transparency are essential for outlining a strategy. Converging these parameters as a store will make all the difference.
7. Data analysis
Information is the key to success in business. Data as such is not useful if we don’t know how to extract it, measure it and analyse it to be able to draw conclusions that allow us to make strategic decisions for the business.
8. Active listening
Promoting channels to listen to consumers, enabling us to learn more about them, know what they want and adapt our business to meet their needs.
9. Ongoing training
Maintain sales education and long-term techniques to be prepared to give the best service.
10. Efficient innovation
Technology without a purpose doesn’t make sense, so we must fully analyse the needs and objectives to be able to establish a strategy in which technology has a clear purpose.
If you would like to learn more about how we can help you at HMY Retail Tech and fulfil your goals, contact us.