The Future of Retail is Beyond Omnichannel and into the virtual
Retailers have found that simply offering a comparable selection of goods online as their competitors isn’t enough to stand out in the crowd. In order to compete in the new environment, retailers need to distinguish themselves through robust online and offline experiences. retailers must transition from a showroom model to an experience venue. It will be a multi-year journey to reimagine the systems, processes and structures to make them more agile and responsive, but planning needs to start now. With the right technology, the right programs and the right people in place, consumer satisfaction and sales will align to exceed all projected expectations.
The physical store has the potential to be the most powerful and effective form of media available to a brand because it offers an experience, which if crafted properly, cannot be replicated online.
Given their innately live, sensorial and experiential quality, physical stores have the potential to become powerful media points from which retailers can articulate their brand story, excite consumers about products and then funnel their purchase to any number of channels, devices and distributors.