Saturday, March 14, 2015

Store of the Future

As technology develops, the integration of digital interaction into our physical world increases. Lately it seems everyone is talking about what "the store of the future" will look like, or is it already here? A lot of it seems like technology for technology's sake to me, but I found the following infographic to be very interesting because it laid out all the engagement facts in one swoop.

I am, however, curious as to why "the store of the future" is almost always spoken about in a clothing retail context. I went to Duane Reade this morning to pick up a prescription and had a horrible (even by poor Duane Reade standards) experience, and could think of more than a few UTILITARIAN ways that technology could improve that journey. Hopefully, "Duane Reade of the future" is next up for an overhaul.

Here are the major stats:

  • 72% of young customers research their options online before making it to a store
  • 42% of companies expect to send coupons based on customers' location in store
  • 66% of customers would like to see promotions included in retailers' apps
  • 22% of customers spend more if digital is involved in the process
  • 85% of customers buy more when helped by a knowledgeable sales assistant
  • 54% of customers would like to use an 'endless aisle' option on tablet or digital screen in store
  • 86% of shoppers said it's important for a retailer to have an integrated online presence
  • 50% of in-store transactions will happen via mobile POS or self-checkout by 2017
  • 47% of US retailers believe store operations will undergo significant changes thanks to implementing a unified commerce platform
  • 74% of retailers believe that developing a more engaging in-store experience is going to be business critical

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