It is not a good time for brick and mortar retail stores. The internet has changed the retail industry a lot. There are so many online retail stores popping up that they are making it difficult for the brick and mortar stores to keep up the sales.
The online stores have increased the competition but that does not mean that there are no opportunities. If you are planning on investing in the retail industry then make sure that you are aware of the challenges. It will make sure that you plan accordingly and achieve success. The key to a success store nowadays is to define the store for the digital age.
Here are a few tips that can help the brick and mortar stores.
Digitizing the Store:
It is important that the store is digitized. It helps in meeting the increased and high customer expectations. Almost everyone has a smartphone these days and they use it for shopping. The smartphones improve the shopping experience and make it more fun and less stressful.
Displaying the merchandise in the remote multideck freezer is not enough. People check online reviews and specifications and they also compare prices so make sure you have an online presence.
The digital platforms offer an opportunity to interact with the customers. Customer interaction has become an integral part of the retail industry. Digitizing the store is helpful in improving the customer experience which will earn you customer loyalty.
Uniting Traditional Advantages with Digitization:
The brick and mortar retailers need to have an edge over the online stores to attract customers. People will come to the stores if they have something special to offer. Never ignore the traditional advantages of the store because they set it apart from online stores.
The brick and mortar stores can offer visual navigation. The visual navigation and tactile experience is something that the online stores cannot replicate. You can attract clients with the help of visual merchandising and encourage them to invest in your products. A retail startup needs to use digitization and offline strengths to increase the conversion rate.
The in-store experience is a huge factor in high conversion rate. People will always check the store before they decide to buy anything. If they have a good and satisfying shopping experience then they will invest in products you have to offer.
To improve the in-store experience you should expand the range of products and improve merchandising. The placement of the products is an important factor in increasing sales. Make sure that you highlight the popular and new products and the shelves are neat and organized. Make it convenient for consumers to find the products they are looking for. The interactive shelves make it easier for the clients to browse through the variety and find the products they want.
The décor and outlook of the store play a huge role in offering a memorable in-store experience. Make sure that the layout of the store is easy to navigate. Use lighting wisely as you can use it to highlight the special products you have to offer. Use technology to advertise and guide the customers.