Online, offline or both, successful innovators are addressing the polarisation of shopping behaviours.
Despite the bleak headlines, it looks like the high street will survive.
According to Management Today, futurists report that by 2025, 75% of sales will still occur in physical stores. The stores just need to offer more – which they can afford to do as some 45% of consumers globally are willing to pay more for a better retail experience and retailers report over 14% better conversion when experiences are offered.
Attention needs to be given to the ‘immediate shoppers’; the people rushing around and just buying ‘for tonight’ to capitalise on ‘last minute’ intent but to please both experiential and immediate shoppers, retailers need to look to tech. Immediate shoppers can be enticed by check-out free tech, ordering coffees via Alexa or tapping an app. While shopping centres should look to position themselves as leisure destinations to cater for the ‘experiential shoppers, individual shops could look to personalisation for their consumers which could include tech for personal shopping and finding the perfect outfit or indeed look to make the shop a destination itself such as the LEGO Store in London where shoppers flock to play.