- While consumers today have myriad channels and options to meet their shopping needs, many still prefer to finalize purchase in-store and on the shelves.
- Buyers say they want a shopping experience that transforms them.
- Successful brands are able to meet their customers on different channels, mediums and stages of their purchasing journey.
The landscape of retail business has changed dramatically within the last 10 years. In 2020, retailers – both established players and newcomers – face an incredibly saturated market and fierce competition. On the one hand, technological advances in fields such as IoT (Internet of Things) and smart devices have given brands new, bold frontiers in which to expand their foothold on the market. But on the other hand, this means that they face an unprecedented challenge in capturing a rapidly changing consumer demographic who today have the option to shop anytime, anywhere and from whomever strikes their fancy.
The 21st century Formula for Success
The modern consumer is no longer a single-channel shopper. Years ago, people would buy in-person only, and in-store. But with the proliferation of e-commerce sites which offers convenience, personalization and, most importantly, experience (whether positive or negative), people began switching to online shopping. Now, when you see a product on a store shelf, you can’t help but pull up your smartphone or laptop to compare prices or at least research a bit more about the product, because it’s just convenient – and the technology exists, so why not?
Retailers are starting to realize that more and more customers are researching products online but purchase in-store (and vice versa) so that they can touch, play and see how it fits them.
The trick is to meet your customers where they are shopping and buying, whether it’s in a physical store or an online store or on social media, and connecting the dots between those channels.
This is where the omnichannel marketing model comes into play.
Simply put, Omni-Channel refers to retailers with both a physical and digital presence. It is a modern approach to commerce that focuses on designing a cohesive user experience for customers at every touchpoint and empower them to convert on ANY channel. This differs from traditional marketing, where individual channels (like brick-and-mortar stores) were optimized without necessarily taking the whole experience into mind.
The purpose is to keep customers moving around within the brand ecosystem, with each channel working in harmony to nurture more sales and engagement.
EVO Smart Retail Solutions
So how can retailers bridge the digital gap between their existing physical infrastructure and online realm? Thankfully, in 2020 the answer does not need to be complicated.
Incorporating advanced 21st-century technologies such as IoT (Internet of Things), RFID electronic tags and Wi-Fi Access Points, Evo Smart Retail Solutions offers a powerful business suite designed to integrate all your systems into one single, seamless platform that will help you manage both your physical and digital realms with ease.
Having this capability allows merchants to simultaneously control various aspects of their operations, from automating routine tasks such as controlling HVAC and lighting, to updating prices on shelves using electronic shelf label (ESL) system, to designing a better store layout and flow to maximize sales.
Use case includes holding flash sales that involve dozens or even hundreds or thousands of products or SKUs. Perfectly sync up prices across the board – both online and offline – and promote with confidence as you gain the ability to monitor and control your marketing spending in real time.
Call us today to learn how you, too, can easily and effortlessly transform your traditional retail into a 21st-century, revolutionary omnichannel retail model!