We can finally digest the results from Black Friday and examine what this means for the future of brick-and-mortars.
Two major takeaways from Black Friday: Forbes reported that ten million more people shopped online than in stores and The National Retail Foundation found that there was an increase in holiday shoppers while a decrease in average spending per shopper.
This proliferation of eCommerce, reshaping the way customers shop, has forced brick-and-mortars to adapt to a digital society. In the wake of the evolving business more pressure than ever has been added to enhance the in-store experience.
How can brick-and-mortar retailers stay competitive? First, capitalise on the inherent value that is the in-store experience by engaging customers in a way that cannot be duplicated digitally. This can be accomplished by offering educational sessions, hosting in-store events and hiring an enthusiastic sales staff.
This is especially important, as Black Friday findings have determined that since the recession shoppers spend less on average. Dubbed the “conscience shopper”, in-person sales staff have the emotional appeal that can garner a deeper understanding of what the customer needs.
Secondly, it is crucial to be tech-savvy in order to have a seamless and efficient operation. As digital natives continue to make up more of the population there is now an expectation for instant, convenient and accessible service.
Revel’s POS software enables businesses of all kinds to increase speed of service, detail transactions and much more. Investing in technology and adapting to the trends will save businesses time and money and customers are happier with a more personalised and engaged shopping experience.
What role will brick-and-mortar stores play? In a multichannel world, stores will be successful by recognising the unique value in each channel. The in-store focus is on creating an experience – whereas consumer-facing technology can help connect shoppers with the brand, products and employees. While the formula continues to change, channels can be strategised to work with each other to foster business growth and visibility.