source: Euclid, “U.S. Retail Benchmarks Mid-Year Report 2015”
There are many strategies that retailers can implement to combat the challenges of declining instore traffic, and deepen shopper engagement and loyalty. Some specific retail strategies we have seen emerge include:
• Stationing greeters at the door to guide the in-store experience
• Arming sales associates with iPads to look up merchandise quickly and offer check-out services from anywhere in the store
• Offering iPads in fitting rooms to allow consumers to easily find different sizes and styles
• Digital, interactive displays to show style and color comparisons
• Increasing the ease of checking out—for example, Banana Republic’s “Reserve In-Store” which allows customers to select items online, confirm availability at their nearest store and pick-up within a matter of hours
• Offering free Wi-Fi to shoppers. Research shows that a majority of shoppers rely upon their mobile device during in-store shopping sessions.
Brick-and-mortar retailers should also focus on differentiated in-store experiences, such as unique store formats and designs, and superior customer experience. Providing an omni-channel experience that connects online, mobile and offline activities to foster engagement with customers, particularly millennials, has also been a key strategy employed by retailers. Millennials demand convenience—they want discounts and they want fast fulfillment.