The stalwart of advertising, David Ogilvy once quoted, ”Consumer is not a moron; she is your wife.” This is not a cliché but a well-tested consumer fact. In the last two decades, our market space has been flooded by e-commerce sites. Their disruptive innovation has made brick and mortar stores vulnerable. The tactics followed by brick and mortar stores to attract customers have failed most of the times. So what is ailing them? And if E-Commerce is doing so well then why not learn from them? Here are the things that brick and mortar stores can learn:
Customer’s Convenience- Customers are literally god-like figure for retailers. And if you’re unable to identify it then your retail inches towards doomsday. In today’s volatile market, any retailer needs to be one step ahead of consumers. If convenience is what they demand then offer it before they even demand.
Click & Buy- Smartphones has galvanized the booming sector of e-commerce. Better services, customer care, and convenient shopping are the three pillars which facilitate mobile consumerism. The ease of shopping seamlessly was never in fashion, but now it is a requisite for every shopper across the globe. Hence, the word is to go mobile.
Dare to Experiment- Major players of E-Commerce sites are already experimenting for quickening their delivery by pilot experiments of using drones, land robotics(Artificially Intelligent Trolleys i.e. Product on Wheels) and other upcoming technologies. So dare to look beyond the preconceived notions. Mark Zuckerberg once quoted, ”The biggest risk is not taking any risk… In the world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” So start taking risks.
Smart Analytics- The analytics nowadays are leveraging the retail sector. Especially, using predictive analytics can sort out the problems vindicating your supply chain. Whether you belong to e-commerce or brick & mortar store, optimizing your inventory issues is indispensable.
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