Has the internet changed the nature of the way shopping occurs in stores these days? more
To a society fascinated with the process of buying and consumption, a great retail experience should be of significant importance; yet despite the fact that 90% of dollars are spent “in store,” the media are crowded with stories and analysis of “online experience” but scant mention is made of the ways in which we can improve the “in-store” experience for consumers.
To a society fascinated with the process of buying and consumption, a great retail experience should be of significant importance; yet despite the fact that 90% of dollars are spent “in store,” the media are crowded with stories and analysis of “online experience” but scant mention is made of the ways in which we can improve the “in-store” experience for consumers.
This is perhaps understandable since much has indeed been written about store design and the physical placement of products in store. Yet it is myopic to think that in a digital age, design and experience should necessarily be synonymous. In fact, with the near ubiquity of mobile phones, new vistas are opening to progressive retailers who not only want to beat the curve but who want to catch up to their online counterparts.
What physical stores have that online sites do not is the advantage of location.
Simply put: for most purchases there is no single better index for a person’s propensity to buy than location. When you are in Nordstrom’s you are likely to buy from Nordstrom’s and so on. One doesn’t go to Target to walk around and “browse.” Yet, location is a very physical characteristic. Brick and mortar stores, thus, have the ability of taking advantage of technology IF they can correlate it with the incredible upside knowledge that location can deliver to them.
For years, great retailers and great brands have tried hard to collect data on consumers and to attempt to make offers that are in some way connected to their past behaviors. Unfortunately, most of these attempts have taken a statistical approach instead of a personalized approach. This has created a degree of “offer” fatigue in the consuming populace who reject general offers and, instead, use the power of online search to find things specific to their needs. This is well and good until one realizes that the bulk of purchases are made as the result of decisions made IN STORE.
So, what about the ability to get offers, on the fly, relevant to you, while in store? Enter Novitaz. We call this Presence Marketing and it gives marketers a tremendous opportunity to target individual consumers directly in store. I believe, especially in this economy, allowing the promise of in-store shopper marketing to be realized and will deliver a quantum increase in marketing ROI!
This post was submitted by Romi Mahajan, President of KKM Group, an Advisory company focused solely on Strategy and Marketing in the Technology, Media, Agency, and Luxury Goods sectors.
