As competition from internet retailing rises, store-based retailers are increasingly innovating in order to differentiate themselves from the online offer and maintain consumers’ interest. They are focusing more on engaging with consumers, using technology in store and enhancing the shopping experience by offering “retailtainment”. This briefing offers an overview of the store concepts from non-grocery retailers seen in 2014, assessing their strengths and their potential for success.
Innovative and original concepts attract interest from consumers. Opportunity existing for any retailer prepared to bring novelty and fresh ideas to the high street. Niche/small and independent players particularly can benefit from this strategy.
Being present online gives manufacturers the opportunity to distribute their products directly to consumers without dealing with third party retailers. Pop-up stores represent another way for manufacturers to market and distribute their products directly. This offers manufacturers full control their brand image and the opportunity to create a lifestyle concept for consumers.
Special access, free events and other retail entertainment functions give consumers more reasons to visit stores. This approach has proven very successful in attracting customers back into shops. It is convenient and provides plenty of opportunities for brand building, customer nurturing and client feedback in an enhanced offline shopping environment.
In an increasingly connected world, the evolution of multi-channel retailing is one of the ways retailers are adapting to a new generation of consumers. Multi-channel will continue to grow as part of retailers’ offer.
Bricks-and-mortar retailers must offering more than just their products to counter declining footfall and the rising competition from internet retailing. Extra in-store services, special events and any number of other strategies are being trialled to encourage consumers to shop off-line.
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