Everything you need to know about In-Location Management
Now, we are well into 2021 and can confirm that the retail rebound is real. Retailers have shown remarkable resilience to unprecedented adversity by investing heavily in in-location experiences.
The National Retail Federation (NRF), as of June, forecasts that retail sales will continue to grow between 10.5 and 13.5 percent through 2021. The Statistical trends indicate a steady and sustained recovery in retail.
These positive revelations are a reflection of what the State Of Consumer Behavior 2021 Report revealed about consumer sentiment. We found that 46 percent of consumers prefer shopping in person, even when there are pandemic-related fears.
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We knew that retailers were increasing their in-store experiences to attract customers back to their stores. To maintain their momentum, retailers will need to differentiate their in-store experience and online experiences.
A distinct brand appeal is becoming more important as more people return to shops. Retailers should offer a variety of experiences in-store.
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What are In-Location Experiences (
Any experience that you offer to customers who visit your physical stores are called in-location experiences. A collection of in-location experiences can make a customer’s experience at your store more memorable. Your in-location experiences should be:
- Attracting as many customers possible
Think about how innovative retail brands have retained and attracted customers through well-designed in-location experiences.
Retailers Who Are Dominating The In-Location experience Game
Some retailers are open to taking risks when it comes to in-location experiences. They also reap the corresponding rewards. Retailers aren’t afraid to take risks and reap the rewards because they know that customers today have new and evolving tastes.
To achieve impressive results, bold retailers embrace the following classes of inlocation experience: rising sales, increased brand awareness and improved standing within the retail hierarchy.
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Who are the Revenue-Focused Experiences Leaders?
Experiences that are revenue-focused have one goal: To get customers to purchase.
It might sound easy to say that it is difficult. Many brands have shown that targeted ads, brand loyalty incentives, as well as other revenue-drivers, can drive sales.
Walmart is one of the most daring brands. Walmart is leading the charge for revenue-focused experiences, connecting brands and customers at the point where they are sold. Walmart Media Group has:
- Tested dynamic ads in-store monitors
- Targeted ads were placed at self-checkout counters
- It has adopted cutting-edge APIs for its advertising partners.
- It has shown an openness to driving its own and those of its partners’ revenue through innovative and targeted advertising strategies.
Targeted advertising and promotion are delicate. It is possible to gauge the tolerance of your customers for targeted advertising. Urban Outfitters had to withdraw a gender-specific homepage campaign as consumers were not comfortable with this type of targeting.
Targeting customers to drive revenue is a game changer (in a good sense). As you create your in-location experiences, be aware of customer’s reluctance to disclose their personal information and other sensitive issues.
Who Is Dominating Informational Experiences
Your store is there for a reason. They’re generally looking for something. It’s fine if they purchase other goods along the journey. However, you must direct them to services and goods as a primary measure. Your informational experiences are how you communicate with and direct your customers.
This is a good rule of thumb: Tell the customer as much information as possible about the product, including its location and specifications. One important caveat is that you want the informational experience to be as enjoyable and easy as possible.
Interactive touchscreens are proving popular with consumers. Many retail brands have incorporated interactive touchscreens with informational over the years.
Bloomingdale’s installed interactive video screens in its Manhattan street-facing windows, which allowed customers to try Ralph Lauren clothes without ever having to step inside. Jaguar introduced virtual reality (VR), in-store screens that allowed customers to view custom vehicle models before purchasing.
Any retailer that offers valuable information to customers through technology, such as interactive store maps and more out-of-the-box experiences such as those offered by Jaguar or Bloomingdale’s is a leader in the informational experience market.
Who Dominates Immersive Experiences
Immersive experiences are designed to leave a lasting impression. What is the most memorable thing about your customers’ experience at your store? What about the actual purchase of a product or Refinery29’s 29Rooms Funhouse?
Although Refinery29 doesn’t operate as a traditional retailer, it can be used to model its memory-making approach through immersion. Canada Goose understands the importance of consumer immersion and literally immersed shoppers in cold rooms to demonstrate the heat-retaining capabilities of its winter coats.
Immersive experiences should be unique to your brand. Be creative.
Who Is Dominating Checkout Experiences
Self-checkout is a key component of any discussion about checkout experiences. Easy, efficient self-checkout is essential.
Pre-COVID, self-checkout terminal shipments increased by up to 50% year-over-year. Post-COVID consumers will no longer negotiate for convenience and health.
All you have to do is offer self-checkout kiosks that are within your buying range. Costco and Wegmans have both embraced self-checkout. Walmart, Home Depot and many other market-leading retailers have also embraced self-checkout.
The State Of Self-Service Checkouts 2021 report showed that 88% of consumers think self-checkouts are faster than employee-assisted checkouts. You shouldn’t be surprised to learn that customers are more concerned about their time than a slow checkout experience.
Almost every major retailer now offers self-checkout. It is a good idea to do so.
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The total consumer experience in-location can be viewed as a fork. Each individual experience, including sensory immersion, identification, observation, customer service interactions, and checkout, are prongs of the fork.
Each point is crucial to the function of the fork, just like every consumer experience affects the perception of your brand. Look up to brands that offer memorable and innovative in-location experiences. Your brand can add your unique touch to proven strategies such as self-checkout and targeted advertising.
These micro-experiences will help you to build loyal customers.
Source : https://www.mytotalretail.com/article/everything-you-need-to-know-about-in-location-experience-management/