Lab LUXURY and RETAIL ® is delighted to be invited in Mapic 2018 to speak about exciting retail subject : » Omnichannel is reinventing physical »
- Strategic partnerships between retailers and pure-players brands: the recipe to a successful omnichannel strategy
- Using digital to boost revenues and traffic in physical spaces
- Online, offline: creating the best personalised customer journey to meet increasing expectations
- The next big challenges and opportunities for property owners
Pure-player brands need retailers to develop their visibility and margin
- I called this new retail « RETAIL HYBRIDATION «
But at the opposite brick and mortar needs e-commerce to develop their strategy and turn-over
2 examples :
in England : Luxury pure player FARFETCH open store in BROWN’S department stores
in France : Luxury department stores GALERIES LAFAYETTE bought this year LA REDOUTE, distance and online selling brand
What is efficient omnichannel strategy ?
- It’s the need for the retail brand to give shopper a seamless customer journey
- Beyond digital tools retail and luxury brands need to aim the » graal » : CUSTOMER EXPERIENCE
Omnichannel is all about customer experience with the focus on providing customers with a seamless and integrated journey
irrespective of the channel or touchpoint through which they choose to shop or engage with their chosen retailers.
A 2017 US report found that 90% of all retail purchases in America were finally made in physical stores ( France level is 80%)
- Store become meeting point of an omnichannel strategy where digital meet physical ( store is now PHYGITAL)
- And therefore one of the main point in customer journey for 80 to 90% of shoppers
On the one hand technological solutions and on the other hand a return to the human, but these meanings are called to blend, only the customer experience to prevail
The set of technologies deployed can not be able to meet the needs of experience alone because for the most part they remain only facilitating tools of connection between the brand, its product and service, and its consumer.
In fact, retail hybridation is only there to serve the human, who is our client but also our collaborator.
So the technological solutions chosen must
- meet the needs of « usage first » with the purpose of providing services and facilities
- allow a return of the store thanks to the reinvention of its model and the phygital,
- but also thanks to the human,
in particular by necessary reflexion process and evolution of the role of the salesman become « increased salesman », for a tripartite profit between salesman / customer /brand.
Retailer and luxury brands will have to juggle these ingredients to appropriate those that are useful in creating a unique recipe for their stores, becoming a differentiator and a reinvented customer experience generating brand preference.
If you prefer to read me in French, you can consult one of my articles on customer experience published in E-Commerce magazine. https://labluxuryandretail.paris/le-point-de-vente-futur-eldorado-de-lexperience-client/