Are physical stores dying, or are they simply developing into something new?We believe in the latter.
Many shop online because of convenience, overview, selection and price, therefore the physical store must be able to offer a more sensual and emotional experience, which you cannot get online in the same way. Today there is a huge selection of products and brands, and new ones are added all the time. Therefore, the consumer has become more experience-oriented and is looking for brands where you not only buy a product, but also become part of a cultural community.
Here are three suggestions on how to keep your store relevant and value-creating in a digital world.
1. A powerful marketing toolSeveral of the big brands have started to use their physical stores as a branding-
and marketing investment, some have even completely removed sales from stores.
When you remove sales from stores, the staff's task is no longer to sell, but instead to guide, tell and guide the customers, and in that way offer an engaging and educational experience.
You can also take advantage of the sensuality a physical store has to create emotional connections with customers and thus become top-of-mind when the customers are ready to buy at a later stage.
2. Get good square metersIt can be expensive to have a store in a top location, and therefore you can scale down and think new to get a central location. With the help of technological integration, value chain optimization and the e-store as a back store, you can create smaller stores that focus on service and inspiration.
3. Hybrid stores
It has gradually become quite popular to combine traditional retail with other service professions. This is often done by combining shop and cafe.
The idea behind hybrid stores is to create an inclusive environment that can cover more needs, and in that way shift the focus to interaction instead of transaction.
With a deeper relationship between brand and consumer, you can increase traffic and awareness of the brand.
Source: Retail Mega Mag #1, 2022, The physical store is (still) under development – not liquidation, Mette Skovgaard Frich