Brands, technology and the changing face of retail. Retail is getting complicated.
It is no longer a case of simply stocking shelves with desirable goods and waiting for shoppers to flock through the doors. Rapid developments in technology are changing the game. Modern-day retailers have to make their goods available via websites and mobile apps, run efficient e-commerce operations alongside – or instead of – bricks and mortar stores, deliver goods to the consumer's front door and be prepared to manage a backlash on social media if things go wrong. Consumers are becoming more demanding and less willing to tolerate failure. They want a seamless shopping experience however they interact with a retailer. The explosion of technology is transforming the way we shop. Retailers are looking for ways to satisfy these increasingly unforgiving shoppers.
The participants agreed that the challenge of technology is both daunting and potentially rewarding. But social media is not all about managing adverse comments. Radical implications. The Future of Retail: Reinventing and Preserving the In-Store Experience. Consider retailing a two-pronged challenge: On the one hand, retailers must accommodate the increasingly mobile consumer.
On the other hand, the traditional retailer can't ignore the need to drive that consumer to a physical store. As highlighted in our previous post on the future of retail, there is a flurry of activity surrounding online retail initiatives right now, with particular emphasis on mobile. Mobile payments in particular are getting a lot of attention as retailers figure out ways to transfer the shopping experience to every sort of handheld device.
But there is an equally intense effort to reinvent the traditional store. In fact, many retailers are beginning to realize that rather than close stores, they can sustain them by giving them a much-needed facelift. Not surprisingly, this trend may bring with it interactive, intuitive and futuristic elements, such as virtual shopping screens, audio/video presentations, QR code integration and even robotic store displays. The Future of Showrooming: How & Why Retailers Should Make Strategic Shifts Based on Consumer Behavior. Showrooming has become a growing point of contention in our industry.
As consumer behavior becomes more and more accustomed to using the in-store experience as a point of research and brand experience, only to then purchase online, brands and retailers must pivot their in-store and digital strategies. Underscored by the economic recession and the prominence of the web, people began to educate themselves on product traits, brand identity and, most importantly, price comparisons. The web was used as a tool to ensure a customer was getting the best price on an item they desired. The problem this posed for brands, of course, was that strictly online retailers often had the ability to offer lower price points, as there was less overhead involved in their businesses. Radioshack’s concept stores « Retail Innovation.
US retailer, RadioShack have announced the opening of one of its new concept stores in Brooklyn, New York.
The location is one of a dozen stores to open since the company began converting to the new format this summer. Concept stores in the company’s portfolio feature an upgraded shopping experience, which showcases the company’s new look and incorporates interactive areas designed to help shoppers improve their technology profile. Some features include a speaker wall where customers can shop and compare 13 different speakers using music installed on in-store tablets or played from their own Bluetooth-enabled mobile devices; interactive displays that enable shoppers to find and compare products. Nike FuelStation interactive store in London’s Shoreditch « Retail Innovation. Nike is hoping to change the way we shop.
The shopping experience of the next decade is to be all about involving you, the customer, in a way that not even Apple does at the moment. The Nike shop of the future is about reacting out to you, playing with you, even helping you – and that’s before you’ve even touched or seen a product. To demonstrate the new retail experience of the future, Nike has created a showcase store in London’s Shoreditch. It’s the first of its kind in the world, and even though the Nike Fuel system isn’t available in the UK yet, it is all about that. Called the Fuel Station, the new store is located in the Boxpark mall off Shoreditch High Street, just seconds from the Tube station. That helps define the store while also giving it that cool vibe. “It’s all about showing off movement,” a Nike spokeswomen told us.
Showcase of Inspirational Concept Stores. In times of economic grief, the world of retail becomes a battlefield to attract customers and with so many brands on the market, it takes bold strokes to prevail from the rest.
Every few months it seems a new flagship has opened, and brands are making their mark on the map with a radical and explosive architectural vision. Retailers constantly hunt for established architects and designers to apply their academic sensibilities to elevate a brand in order to create an impressive design. For emerging firms and designers, the chance to create a cool concept store for an establish brand is the way to brand your name on the global design stage. Nothing here is “I’m here”. It is all architectural landmark, and the following 25 creative and inspirational concept stores are just a peak at the invigorating and competitive world of 21st Century retail design. 24 Issey Miyake (Tokyo, Japan) Count on Japanese designer Nendo to pack the punch with his contemporary, minimal designs.
Camper (London, UK)