sophisticated lounge rooms and complete with premium champagne and whiskey refreshments , cannot be replicated online . And they can be socialized . That is , made into a group experience , that is also Instaworthy . A more personalized experiential version of what used to be leisure-browse shopping trips or ‘ window shopping ’.
What challenges are the physical stores faced with ?
a ). Property : This one is not new for brickand-mortar ( hence the name ). But it is as challenging as ever to find a property in a good location with rent that is sustainable for the business .
b ). Competition with online retail : This challenge is probably the most talkedabout since online retail has been steadily stealing sales from brick-and-mortar for years . Storefronts have new purposes ; they are not just places people come when they need to buy something , but places people come to gather info , connect with a brand or company , comparison shop , and spend leisure time .
Brick-and-mortar retail in the digital age presents some unique challenges , and more are sure to come along as the situation develops . Retailers who want to succeed should consider combining online retail with a brick-and-mortar presence .
What should physical stores do in the fast- developing digital economy to stay relevant ?
Physical stores have the capability to be immersive , entertaining , and sensorial in a way that digital means such as AR and VR cannot fully deliver . This means activating all five senses , particularly touch , smell , and taste ( as sight and sound can be replicated digitally ).
Personalization talks to the CX Forces of Belonging and Status by using customers ’ names and knowing the customers ’ sales histories .
Equipping physical store staff with mobile tablets and apps where a customer ’ s purchase history can be accessed instantaneously to recommend suitable items ; not just providing solutions for a segment or a persona , but a ‘ segment of one ’ personalized experience .
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The converging nature of commerce , where physical and digital environments are blurring , is giving the physical store more roles to play . It is a case of ‘ and ’, not ‘ either / or ’. The channels are no longer competing but merging , creating the need to redesign and measure customer journeys across channels based on their needs .
Providing store staff with both product and customer information and history
Chris Githaiga
enables staff to add value to the customer ’ s experience , going some way to addressing the thorny question of how store staff can add value if the customer comes into store knowing more about the product than the store staff do . Customization of the product also talks to Belonging and Status .
How have advances in technology impacted the E-commerce industry ?
Since the last 20 years , the e-commerce industry is growing significantly . It is due to the higher consumer interest , participation , and increased demand . In this time the B2C e-commerce was gaining the speed with B2B e-commerce , and this trend is continuing all over the world and it will be seen in coming years . The technology is the main fuel behind the evolution and existence of B2B and B2C E-commerce industry . As the technology is changing the transactions between the business and consumer , the consumer is accessing various tools to estimate prices , find alternatives , stores and obtain coupons .
How can brick and mortar stores leverage tech-
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