Retail Trends: Digitizing the Storefront
For the retail industry, the storefront has taken on an entirely new meaning. Chain Store Age goes into detail in a new article about how retailers are preparing storefronts to become omnichannel hubs.
The trend is not a surprising one. A study earlier this year revealed that consumers who shop both online and in person spend an average of up to 3.5 times more than a single-channel shopper. Having both an online website and brick-and-mortar gives the retailer different ways to interact with its shoppers. According to the study, a well-executed omnichannel strategy includes giving the shopper the option to buy products online and pick them up in-store as well as buy products in-store for home delivery.
Many retailers (like Target) are taking all of this a step further by maximizing in-store design with digital attributes. Retailers must now deal with an awkward challenge: reconciling their brand against their own physical space. Incorporating digital elements into the store itself can help massage this disconnect in order to appeal to young and techno-savvy shoppers. More than half of the key 18-to-44 demographic surveyed said that they’re “likely to favor a store with advanced mobile capabilities.” The shoppers have spoken, and retailers are listening.