Technology has become a part of shopping just as it is has become a part of every other aspect of our daily lives. We rely heavily on our tablets, our smart phones and even our vehicle navigation systems. And now consumers use technology to research products, look for promotions and Snapchat images to their friends all while visiting their local retailers, shopping center, or mall.
Retailers and mall developers of today are seamlessly integrating technology into their businesses to enhance the overall shopping experience and to provide the high level of personalized customer service that consumers not only demand, but have come to expect.
CLICK AND COLLECT
Consumers are looking to digital channels for convenience and to become better-informed customers; yet they still crave the experience of seeing and trying on merchandise and the instant gratification of taking items home immediately. Retailers are capitalizing on this trend by offering customers ‘click and collect’ – the opportunity to buy online and pick up their items in store; a convenience that often turns into additional in-store sales.
The growth in spending with omnichannel retailers, those with both digital and physical channels, has shot up over the past few years. Similarly, pure play online retailing is growing as well; however, it still only represents about 3.5 percent of total retail sales. Further, many pure play online retailers like Bonobos, Warby Parker and even Amazon, are opening physical stores. Brick-and-mortar remains central to the brand, shopping and the overall experience.
What does that mean for the holiday shopping season, whether it’s Cyber Monday or Super Saturday? According to our research, it means that the retailers who win will be those that offer a seamless, omnichannel experience.
HALO-EFFECT
Research indicates a strong relationship between the presence of a physical store and the amount of online sales generated within a particular geographic area. This synergistic relationship is known as the “halo effect,” which indicates that when a physical store thrives so too does the online business in that region; and, if a store closes or sales decline, the online sales in that area also will suffer.
[Source:-Forbes]
