E-commerce sales are expected to reach 8.2% of total retail sales in the US by the end of 2016 and, 12.6% by the end of 2020.
Retail online sales are growing every year, especially in apparel and fashion. While knowing this essential channel, more and more online retailers are investing in opening physical stores: Amazon, Spartoo, La Redoute and now Made.com.
Why are these ‘click’ giants investing in ‘brick’ stores?
Well, because 90% of all purchases are still made in-store. Consumers prefer this buying channel due to the product tactility offered (it’s hard to really ‘feel’ those 900 thread count Egyptian cotton sheets online, right?)
In fact, conversion rates in-store are much higher than online, 20% against 2,5%.
Physical stores also represent the brand image and they enable retailers to enhance their offer. But how is that made possible? By providing consumers with a flawless customer experience.
This is why visual merchandising activities are key for retailers.
They allow them to present their products in the most appealing and visually compelling manner possible, in order to attract customers in-store and ultimately persuade them to buy their products. Window displays, store atmosphere, promotional displays and mannequins are an extremely powerful way of getting customers in-store. They directly influence consumers’ shopping intentions and have been proven to significantly drive impulse purchasing behaviours.
However, to provide this perfect customer experience that drives store revenues, retailers must ensure merchandising elements are perfectly implemented in order to attract customers and generate sales. This is now even more critical as most brick-and-mortar retailers also have e-commerce websites; they have to not only make sure the in-store experience is perfect, but also that it is consistent with their online presence for omni-channel excellence.
But…how are retailers supposed to make sure all their stores are on the same page, when they have hundreds even thousands of locations across the world?
Well, the truth is that it’s extremely difficult to do so - they send email to their stores and VM teams to check compliance, but they don’t have anywhere near real time visibility on what’s happening in-store, which also means they have no idea if the customer experience is perfect. Collaboration is broken between HQ teams and store staffs and retailers have no way to ensure in-store excellence.
‘Retail is Detail’
This is why we created YOOBIC, retailers desperately needed a new platform to ensure perfect execution in-store and perfect the customer experience.
With YOOBIC, retailers can identify issues immediately and take action faster to ensure all the details are correct for in-store excellence.
Check out our new video and see how it works!
Want more info about YOOBIC or want to get a demo? Get in touch!