As big brick and mortar retail stores are folding in droves, the survivors are poised to stay alive by harnessing emerging technologies and focusing on trust and loyalty.
According the CardBuzz Consumer Blog, blended in-store and entertaining experiences such as coffee shops, cafés, music, bars, or complimentary samplings of products or services are rapidly becoming the norm.
A recent survey by Synchrony concluded from RFID in phones and wearables to biometrics such as finger and palm scanners, retailers will know shoppers well enough to direct them to preferred in-store items and send immediate and individualized sales offers via beacons. In-home chat bot devices and unbiased experts within digital assistants will become popular.
Furthermore, consumers will be able to secure in-home retailer services, purchase on demand using smart labels or QR codes, shop in 3D and use instant try-on features.
This month Finer Fields’ physical store in Soho, New York City, launched a clothing showroom of emerging fashion, design and lifestyle brands for home delivery. Dismissing storage of any sellable inventory, the storefront will only carry a brand’s sample product line for consumers to try in-store, and then buy on the Finer Fields’ mobile POS for online purchase for two-day home delivery, thus giving customers bag free days.
Finally, recent surveys are bearing out Millennials love online shopping but still love brick & mortar.