Physical stores' rise in popularity prompts online retailers to adapt
Implications - Years ago, online retailers took the traditional market by storm, upending the brick-and-mortar sales model. Since then, brick-and-mortar retailers have responded by providing consumers with experiences they can't get online. The process has now come full circle, as e-commerce brands recognize the unique appeal of physical stores and thus offer online experiences that mimic brick-and-mortar shopping. While evolution is natural in any industry, brands that search out and recognize the value behind traditional techniques can further improve their modern operations.
Workshop Question - What is the most appealing aspect of the traditional marketing techniques in your industry? How could you adapt that technique to suit your modern day practices?
Trend Themes
1. Physical-digital Integration - Retailers are combining the best of physical and digital retail experiences, making it easier for shoppers to interact with and buy from brands in a way that is convenient and enjoyable.
2. Curated Shopping - Retailers are recognizing the importance of personalization, tailoring products and experiences to customers' unique preferences, increasing their loyalty and satisfaction.
3. Virtual Shopping Platforms - Virtual shopping streets and malls that offer individualized customer experiences allow shoppers to interact with products and services in unique and innovative ways, making shopping a more memorable and enjoyable experience.
Industry Implications
1. Retail - Retailers can leverage physical-digital integration and curated shopping experiences to improve customer satisfaction and brand loyalty, while virtual shopping platforms can help create unique, engaging shopping experiences that keep customers coming back.
2. Fashion - Fashion retailers can use curated shopping experiences and virtual shopping platforms to showcase their products in new and innovative ways, creating a more memorable and enjoyable shopping experience for customers.
3. Technology - The merging of physical and digital retail experiences and the growing demand for more personalized and interactive experiences presents opportunities for technology companies to create new platforms and tools that help retailers better engage with their customers.
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Date Range:
Jun 17 — Apr 18
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