Retail Sales spiked over the summer primarily due to a strong economy with GDP at 4.1% annualized growth in Q2 and successful retailers are effectively implementing Omni-Channel retail into their arsenal. This is required for the future success for any retail brand and the strongest retailers are spanning across physical, mobile and social platforms to implement this strategy. This is what customers want and desire and allows retail brands the opportunity to parlay their physical footprint to their digital offerings to provide the customer with a more personalized and rewarding experience. Examples of this include, ordering by phone, instant return (customers can drop off a product for a return in a box outside of a store), Walmart’s format of “personal shoppers” (select and package groceries to be picked up curbside), in-store wireless promotions and new augmented reality tools making shopping in store more interactive and fun. Personalization, Localization and Customization allow retailers the ability to build an intimate bond and best serve their customers!
Customers used to go to the store, now the store also must go to the customer. Omni-Channel is all about being where the customer is and tailoring your experience to what the customer wants in that moment. Whether it is convenience in the online space, making it easy to search for the product that they want or giving them recommendations to make it personalized to them, or in the “off-line” space, making it more fun and interesting, a place where a customer might take a picture and share it with their network. Moving forward Omni-Channel is a must and the baseline for success in the retail space!