Retail must capitalise on its big competitive advantage the ability to appeal to all the senses
Stephen Kumar, of retail consultants Retail Oasis, was reported this week saying “Retailers had to create a more exciting in-store experience if they were going to thrive.”
We agree and in fact have been saying the same thing for the last five years as the focus on e-commerce sites has rapidly increased.
Retail stores still have an opportunity to get us away from our computers but that window of opportunity will decrease unless they start getting a lot more creative with their in-store experience.
The days of just trying to get customers in the door using price are long gone as are the promises of great customer service. Today coming up with unique ways of adding greater value to what you offer and treating customers more as individuals is a great start to stimulated creativity within retail businesses.
The key is to get everyone involved, and if the opportunity is there, get your customers involved.
Customer loyalty has decline, but it’s not dead. As customers we still want to belong and to be recognised.
The future will be less about customers being loyal to a business and more about the business being loyal to their customers.