So, with this trend, will the next model for retail business in the next decade be ‘click and mortar’ stores?
Will the lines between online and in-store become blurred?
Whilst the shift towards ‘getting online’ boomed through the 2010s because companies simply had to in order to survive, retail stores will need to adapt to blending their offering online with their in-store offering. Some have started this already with a ‘click and collect’ option when ordering online which encourages picking items up in-store and may encourage more purchases, or ease of getting the product.
Additionally, some retail stores will provide you with a 10% discount on the back of your receipt when you purchase in-store for you to use if you sign up to their email newsletter, for example. Both of these techniques are smart and it has been proven through a number of studies that consumers are more likely to make another purchase if they interact with your business more.
The likelihood is that the biggest retailers will still continue to focus online first-and-foremost as this is the bread winner revenue-wise but will still keep a chunk of their storefronts open because there will always be some that prefer the in-store experience. But, both online and in-store will look to work better together.
Other things retail companies could offer in the 2020s
With the move towards a ‘click and mortar’ model, there could be a few subtle changes brands take to improve consumer engagement, some of which we will highlight below:
- ‘Buy and Try’ – Purchase online, try on in-store and if you’re happy you get charged. If you’re not happy and need another size, they’ll ship it to your home.
- Instore size profiles – Go into store and get measured up, create the profile with your email address in-store and then login at a later date to use this profile to find the best fit when ordering online.
- Using historic data and location to get you in the shop – When purchasing online, companies can work out your buying habits and your style preferences and with advancements in technology, these same brands could use this data to pop up on your phone as an advert to say how far away you are from their ‘bricks-and-mortar’ store.
As the retail sector grows and adapts, both online and in-store, the way in which their marketing is optimised will change too. If you’d like to discuss how your brand can improve the performance between your stores and your online marketing, contact one of our experts today.