This whitepaper explores how technology enabling real-time awareness can allow retailers to act on shopper behaviour in-store. This capability will be essential for maintaining store productivity and profitability, increasing customer engagement and retention levels, and driving sales.
PlanetRetail RNG has identified four key characteristics of the Store of the Future:
• Creating a memorable experience that can’t be replicated online
• Positioning the store as a social hub
• Building a frictionless interaction with online-to-offline (O2O) integration
• Differentiating through product curation
To remain relevant in the future, stores need to cater to the changing shopping habits of today’s on-demand consumer, whose expectations are mainly driven by the digitisation of experiences. B&M retailers must prioritise their efforts around gaining actionable insights from these new consumers.
They need to understand:
• Who their customers are
• Where they are instore, and how long they stay
• Why they are there (i.e. the reason for the visit) and at what point they are at in the sales funnel
• How to best engage with them, based on this context