8 Types Of In-Location Experiences You Can Deliver in 2021 & Beyond

In our State Of Consumer Behavior 2021 report, consumers made it clear: experiences matter. Ninety percent say they will return to your store if it provides a positive experience.

Also, it’s clear that customer experiences are not universally applicable. Different shoppers have different tastes and needs. To cater to as many shoppers possible, retailers must offer a wide range of in-store experiences. Each one should be designed with clear purpose.

We are retail’s front-line players and have identified eight in-location experiences your company should offer:

  1. Click-and-Collect Experiments
  2. Immersive Experiences
  3. Revenue-Focused Events
  4. Get personalized virtual support
  5. Informational Experiences
  6. Experiences that build brand loyalty
  7. Self-Service Experiences
  8. Visit Experiences

According to Andrew Defrancesco you should offer your customers as many experiences as possible in a single visit. These experiences are not mutually exclusive and each one provides tangible and intangible benefits for your customers as well as your brand.

Click and Collect Experiences

Most likely, you’ve heard that shipping prices are increasing. Customers are also taking longer time to receive their goods. Customers are also waiting longer to receive their goods, food and furniture.

Physical retail’s advantage is what E-commerce has lost. The click-and-collect experience is readymade to capture customers who want to spend as little as possible in your stores but don’t want to wait or pay for delivery.

Click-and-collect services include curbside pickup or in-store pickup. This service allows customers to place orders online or by phone, and then pick up their order in-store. There is no need to shop.

According to our State of BOPIS Report 2021, more than three quarters of consumers have used click and collect options. There is a lot of consumer demand. Give your customers an option to buy your products quicker and more cheaply online.

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Exemple: Nike is one of the first to adopt click-and-collect. Customers still have this option . They prepare the order in two hours and then email the customer with a unique QR code to facilitate seamless pickup.

Immersive experiences

Your brand will leave a deeper impression on the customer if you make your in-location experiences more immersive. As younger generations have more disposable income, this has been more apparent.

Millennials are creating an “experiential economy” with 78% preferring to spend more on “experiences” than “things.” Your mission as a retailer is to create an immersive shopping experience. Things sold within an experience.

An interactive digital product catalogue can be as simple as a brochure. But don’t stop there. Experiential retail is becoming more mainstream. It’s important to think outside the box in order to keep up with this trend.

Example Vans’ House of Vans lives by the brand’s slogan “Off the Wall”. These huge compounds are located in Chicago and London and offer all the Vans merchandise that a customer could want. The concrete bowl allows skaters to sign waivers and put their Vans gear to a test. There is also an art gallery, café, and live music venue. House of Vans is immersion at its best with the volume up to 10.

Revenue-Focused experiences

Immersion is both fun for customers and beneficial for your business. Retailers need to be able to make a living by creating revenue-focused experiences.

If the experience’s purpose is to make the customer buy, it is revenue-focused. These include loyalty program perks and point-of-sale promotion (digital or printed), upselling by your employees, and any other activities that are designed to increase short- and long-term revenue.

Example Target’s reputation for making customers spend more than they expected is a testament to its ability to get them through its doors. Target offers revenue-focused experiences that include smart product placement and seasonal promotions. It also has a product rotation that creates “FOMO.”

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Informational Experiences

Informational experiences help customers understand what they need in order to shop with your company. Informational experiences include updating your product availability online and in app, providing detailed product specifications in-store, and prominently displaying promotions on signage in-store. Your informational experiences should be engaging and informative, just like any other experience.

Tip – Make sure that your offline customers are well-informed about your location.

Example:Shopify showcases 120 grocers who use digital signage to direct customers to products and inform them about promotions. This informational signage was installed and has led to a significant increase in the revenues of these grocers.

Personalized Virtual Support Experiences

Effective virtual support services can help reduce staffing costs for retailers and offer customers an alternative way to get assistance. These virtual support services can be an asset to your store if they are personalized and effective.

Tip – Engage with your customers one-on-1 just as you would if they were face-toface.

Example The in-store virtual assistant is a type of personalized virtual support services. These services allow shoppers to connect with an assistant off-site who can answer product questions, direct them to specific products, and facilitate buying.

Sam’s Club uses its app to help customers locate items in-store and integrate augmented reality into the shopping experience. Also, check out — another example tech-driven customer service.

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Experiences for Brand Building

Positive brand awareness is the purpose of brand-building experiences. Every interaction your brand has with customers and non-customers is an opportunity to build brand awareness. Customers can be exposed to brand messaging, philanthropic drives and origin stories.

Example The “Charity Checkout” phenomenon is still a common feature of retail. It allows retailers to support worthy causes. You can also think of Salvation Army Santa at your local grocery store, or you could donate to The Wounded Warrior Project while you shop.

Checkout and Self-Service

These experience categories are combined because self-checkout, which is the easiest self-service experience that retailers offer, is what we combine. Customers find it to be the most valuable. Self-checkout kiosks can be affordable and empower customers. They also reduce wait times.

Tip: Make it easy for customers to spend money on you. Avoid self-checkout’s potential pitfalls.

Example Most national retailers offer self-checkout. There are many examples, from Walmart to Home Depot and all retailers in between.

Conclusion

In-location experience is a broad term. I hope this article will help you to better understand what it takes to create a positive customer experience in your store. All you need to do now is provide exceptional in-location experiences. Easy, right?

Source: https://www.mytotalretail.com/article/8-types-of-in-location-experience-you-can-deliver-in-2021-and-beyond/

How Retail’s Physical Spaces will Adapt to the Post-Pandemic Era

The COVID-19 pandemic will leave a lasting impression on future generations. The global health crisis has had a profound impact on Gen Zers and Millennials. It was not only the financial and emotional trauma they experienced, but also the changes in their online behavior. The retail industry is experiencing seismic shifts in the way that consumers buy products and services.

Pandemic-related lockdowns ravaged thousands of U.S. and Canadian businesses, causing a trail of closures and bankruptcies. A recent McKinsey report shows that apparel and fashion sales suffered the worst year, with a 90% drop in profits in 2020.

The Impact of COVID on the Retail Industry

In the U.S., there are 10,000 stores that are likely closing in 2021. A recent First Insight study found 60% of Americans don’t intend to shop in brick-and mortar stores for apparel after getting vaccinated.

The U.S. commercial realty organization NAIOP reported that more than 76,000,000 square feet of retail space had been built in the country in 2019. However, this figure dropped to 52.6million square feet in 2020. These enclosed spaces, which include luxury apparel and indoor malls, were the most affected.

There is a silver lining in the storm: The pandemic taught business owners how to quickly improve their e-commerce capabilities and to inspire them to be more innovative in welcoming customers back into their physical stores. Local communities supported small businesses, especially local restaurants, underscoring how important character and experience are in the places that people choose to live or work.

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How Retail Spaces will Adapt to the Post-Pandemic Era

This is not all doom & gloom. Forward-thinking retailers who have shifted to online are redesigning brick-and-mortar shops to make seamless integration with their ecommerce offerings. They also showcase a range of new products through pop-up stores. It’s not about the exchange of goods anymore. Understanding who and what customers want is key.

Shopify and Amazon.com, for example, were both booming during the pandemic. Their delivery models revolutionized the industry. In 2021, physical outlets could look very different. Some brands may prefer to convert their space into mini warehouses and work with other retailers to share one. Pop-up shops could become more popular in the future.

Although pop-ups are not new, they are often only seen for short periods of time. Businesses of all sizes can use pop-ups, whether they are small local businesses or large multinational brands looking to launch products or test submarkets. They don’t have to commit to long-term leasing or dedicate staff or resources to the physical space for more than 365 days per year. This is especially important since ecommerce has seen an increase in sales since the pandemic.

The National Retail Federation reported online shopping in the U.S. grew 21.9 percent last fiscal year and is expected to increase between 18 and 23 percent in 2019. Future-ready businesses can reap the benefits of e-commerce growth by accelerating their operations early. The percentage of online spending by retailers with higher penetration levels before COVID-19 was dramatic. It grew from 37% penetration prior to COVID-19, to more than 80 percent at its peak. The wave of vaccination rollouts that are spreading throughout the U.S. should bring retailers hope.

The Future of Physical Spaces within the Retail Industry

Experts predict that retail recovery will be mixed. Essential needs like groceries, beauty, and health will continue to grow at a rapid pace, while other categories, such as restaurants, will suffer if rent subsidies and capacity restrictions are lifted. Also, a PriceWaterhouseCoopers report points to a rising trend in businesses benefitting from being close to a grocery store, which may become top-of-mind for new homebuyers or renters scouting neighborhoods.

Grocers saw record sales during the pandemic. This means that grocery-anchored malls will be more successful in a post-pandemic environment. The big players might begin to shift capital away from retail properties, and instead focus on other asset types. Meanwhile, landlords may find themselves making concessions by lowering rents. Although tenants may not be able pay the full rent, landlords will have to make concessions in order to fill empty spaces.

Resilience of the business model and ecommerce strength of retailers will determine how they emerge from this pandemic. It will also depend on the support of their communities. Retailers face many obstacles when they have to make the difficult decision of vacating a physical space.

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We’ve seen many businesses adapt quickly to the new normal and fight back against the pandemic. The future holds a new chapter in the retail industry’s history of remarkable optimism, determination, and change.

Source: https://www.mytotalretail.com/article/how-retails-physical-spaces-will-adapt-in-the-post-pandemic-era/