Future Stores Guide 2016
Digital is transforming almost every aspect of our lives and doing so in a ways that often challenges the status quo. In terms of retail, while eCommerce has grown quickly, some 80% of purchases are still concluded in real shops. There’s no doubt that digital, mobile and online are here to stay, but these new tools and channels haven’t killed off face-to-face shopping. What many now realise is that it’s not a case of one channel or another, but all of them, together at the same time.
Out of this complexity and disruption comes opportunity. Multi-channel retailers that can work out how to maximise the interplay between physical and digital will surely stand a better chance of success.
The task is not simple. There is no established model for the connected store, so we are all navigating uncharted territory. Both clients and colleagues in the industry are grappling with some key questions. What is the intrinsic value of physical retail space? How does it integrate with digital and other sales and marketing channels? How can physical environments remain relevant and profitable in a market driven by consumer choice and power?
These challenges are both exciting and daunting. They need to be tackled through a broad understanding of both traditional retail values and new digital possibilities. ‘Business as usual’ and pragmatism needs to be joined by an ability and desire to come at this challenge with fresh ideas and re-imagined customer journeys and experiences.
To move forward retailers will need to act rapidly, fail fast and learn quickly. For most this won’t just mean throwing new technology into stores, but a more fundamental re-engineering of their operational and organisational model.
No one business, technology or approach can solve this challenge alone, so moving forward requires innovation and collaboration. We don’t pretend to have all the answers, but we are constantly identifying challenges, opportunities and solutions in what is an early stage and fast moving area.
This short guide is just our attempt to crystallise some of our current thinking, ideas and approaches to connected retail. We hope you find it useful and that it goes some way to helping you along your connected store journey.
Click here to access the full guide.
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