There’s no doubt that the way the British public shops has changed a great deal in recent years. People are now far more likely to spend time browsing an online catalogue or scrolling through Amazon than they are window shopping on the high street. But that doesn’t mean that the bricks and mortar retail sector is dead.
Last year, we discussed the potential for growth in the retail sector despite the rise of the online industry, and found that things aren’t quite so bad as we once thought. In fact, there are many ways that the bricks and mortar industry can take inspiration from the digital space.
Here are three of our favourite techniques that we think could be easily implemented in any store.
🏆
The 2024 Creative Retail Awards are open for entries.
The Creative Retail Awards are much more than a mere accolade; they represent the pinnacle of achievement in the retail industry. Garnering a nomination or winning one of these awards is a testament to innovation, excellence, and leadership.
www.creativeretailawards.com
Diversify products and services
This isn’t a new idea, but it’s one that online businesses have done exceptionally well. The idea is to pivot and look to offer related services or products that complement those you already offer. A perfect example of this done well in the digital world is the online casino industry.
Back in the early 2000s, online poker became hugely popular and there was a surge in online poker platforms and providers. Many offered the same services and, as a result, the competition was fierce. While the smaller operators fell by the wayside, those who were clever enough to realise just what it was players wanted quickly grew to dominate the space and changed the way they ran their services.
Of these many brands now operating in the market, perhaps PokerStars Casino is the most recognizable. The one-time online poker giant have diversified their services and now offer the complete range of online casino games. The brand understood that, as the demand for other types of games grew, they needed to grow with the industry.
This is an approach that many retailers can take as they look to remain competitive. Make sure to invest in services and products that complement yours; if this isn’t possible, then look to partner with companies that can.
Embrace technology
It’s no secret that online retailers and businesses make the most of the latest technology. After all, the fact that they exist online shows a willingness to move with the times.
But how can a high street retailer embrace the latest tech and still have people come to their stores? It’s certainly a challenge but not impossible. One way to do so is through the use of AR.
There are many retailers who now use AR through their apps to allow customers to visualize the placement of a product in their home. You can check out what a sofa looks like in your living room or if a wardrobe would fit into a bedroom.
A high street retailer might do the same with clothing on an AR-powered mirror. Think of the advantages of allowing a customer to try on a dozen different outfits in the space of ten minutes without setting foot inside a fitting room.
Stay social
The high street has always been a social place, but in recent years the very word social has taken on a whole new meaning. Now when we think of social, instead of friends chatting on the street, we think of likes and shares. Now, we’re not saying that there’s anything wrong with that, it’s just that social media platforms tend to push traffic to online stores instead of physical ones. Again, that’s fine, but not ideal for us.
So aside from running social media ads (we’ve all done that), what else can we do to take advantage of social?
Well, e-commerce stores are great at this. They will often offer discount codes or vouchers for shoppers who tag the store in a post on social media. A high street store can easily do the same by offering discounts to people who check-in at the physical store. People who like and follow the store’s social media page can also receive ‘exclusive discounts for store fans’. The trick here is to make visiting your shop worthwhile and that usually means a discount or freebie of some sort.
Of course, there are many other ways that high street retailers can take inspiration from the online industry, but these are the three that will have the most impact.
