Retailers Are Poised to Bridge the Gap Between Online and Offline Customer Experiences
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Brought to you by WBR Insights.
2020 was a year of disruption for the European retail sector, but with disruption comes innovation. Many retailers successfully pivoted during the COVID-19 crisis to not only maintain business continuity but also thrive in the new digital-first environment.
But retailers are now looking toward what's next for the sector, and after an unprecedented year, it's clear that nothing will ever be the same. Consumer habits were already changing with the continual adoption of digital retail touchpoints and ecommerce, but the pandemic sped up this process.
Now, retailers must determine how they can bridge the gap between the online and offline customer experience, so they can meet the expectations of the new shopper as stores reopen. Here are a few strategies to consider moving forward.
Maintaining Omnichannel Services Adopted During the Pandemic
Even as some amount of normalcy returns to consumer shopping habits, retailers shouldn't go back to the status quo. Evidence suggests many of the shopping habits consumers adopted during the pandemic aren't going to change.
For example, last year, Irish consulting firm Accenture said, "The latest data suggests there will be a huge increase of 169% in Ecommerce purchases from new or low-frequency users, post-outbreak. And the vast majority of consumers who have increased their use of digital and omnichannel services, such as home delivery, curbside pickup or shopping via social media platforms expect to sustain these activities into the future."
Consumers chose brands that could change to meet their shopping needs during a difficult time. But they are also insisting that some of those changes be permanent. Still, other researchers advise retailers not to become complacent, as consumer shopping habits could change further still.
According to research and advisory company Forrester, "Optimizing for the future of consumer buying isn't a one-off step change; it requires rapid and regular reinvention. Many firms have shown themselves capable of focused change based on new circumstances [...] but long-term success requires firms to proactively evaluate their options with a willingness to innovate every aspect of the business."
Connecting Digital and Physical Touchpoints
Connecting the convenience and speed of digital shopping with the traditional in-store retail experience has been on retailers' agendas for years. But we're quickly approaching the time when a true omnichannel shopping experience will be realized—and necessary.
New technologies, deployed both in-store and online, are allowing retailers to leverage the same behavioral data they use to personalize online experiences while serving customers on the sales floor. Wearable and handheld technology can empower store associations with customer profiles and preferences, so they can create a truly personalized shopping experience while working face-to-face with customers.
Similarly, retailers must be able to deploy new technologies and internal processes that enable customers' preferred purchasing paths. Ideally, customers should be able to switch channels in the middle of their buying journey with little to no disruption in their experience, and they should be able to approach shopping in a retail store with the same convenience, value, and personalization as they would an ecommerce store.
Leveraging New Choices for Payment and Fulfillment
As Accenture mentioned, consumers expect many of the new methods of fulfillment adopted during the pandemic, such as curbside pickup and home delivery, to remain after the pandemic subsides.
These fulfillment methods proved extremely convenient for shoppers, and retailers would be wise to maintain that convenience moving forward. They also provide options for channel-agnostic customers—those who use online channels for research before buying in-store, and vice versa. By linking the online and in-store shopping experiences, customers have more options to shop the way they prefer.
Curb-side pickup and shipping products from the store to the customer's home can also be beneficial to brick-and-mortar store strategies. By leveraging physical stores as edge warehouses, retailers can bring in more revenue at the store level and maintain profitability at their most promising locations.
Customers are also adopting new methods of payment. Contactless payments became pertinent during the pandemic from a safety perspective, but there's no indication that this trend will slow down afterward. In fact, MasterCard found in 2018 that 15 key European markets were already seeing contactless in-store transactions above 50%.
E-wallets, mobile payment solutions, and non-traditional payment methods are particularly popular in Europe, so retailers would do well to continue offering a variety of payment options both online and in-store.
Enhance Your Omnichannel Retail Strategy
After a year of significant change and disruption in the retail sector, many retailers are looking forward to a return to some amount of normalcy. But Innovative retail organizations recognize that the world has changed for good.
Omnichannel and channel-agnostic retail strategies are necessities moving forward. The days of siloed groups of online and offline shoppers are over. Now, consumers expect a seamless customer experience regardless of which channel they use, and even when they switch channels mid-journey.
Omnichannel retail strategies are going to be covered in-depth by industry leaders at the next eTail Europe Virtual Event, happening online from 25th May to 26th May, 2021. Don't miss your opportunity to gain invaluable insights on this topic. Sign up for free today.