After a dismal holiday shopping season, major retailers are looking to digital to revive lagging sales. Retailers are now recognizing what a large paradigm shift technology has had on shopping with many large brands now adapting their strategies both online and in-store to fully integrate digital.
According to Gary Lee, InReality’s president and CEO:
Shoppers’ new expectations of digital technology in-store is one of many shifts changing the role and function of brick-and-mortar stores. To remain competitive, brands and retailers in brick-and-mortar will have to quickly become just as smart, data-driven and agile as they are online.
With this shift to digital, brands will have to adapt. Some retailers, like Target have made great strides to invest more money into digital and it has paid off. Unlike most competitors, Target has made an early, and significant investment in their digital channel. This channel has allowed Target to grow their annual sales online and also in their buy online and pick up in-store program. In their latest earnings report, Target noted that digital channel sales had increased by 34% increasing the overall sales growth. A large part of this growth was fueled by mobile.
But digital isn’t just about having an online or mobile presence, it also impacts the way consumers shop in-store. More and more consumers are requesting self-help digital stations in-store to help them price-check and research products prior to purchase. In a recent survey, “69% of shoppers surveyed for the ‘Reality of Retail’ report say they would be more likely to buy in-store if they had digital signage, kiosks, and interactive displays that allowed them to help themselves.”
If retail wants to remain viable it must shift its tactics. This is proof that consumers are demanding a more digital shopping experience. Interested in the latest in retail and digital? Receive our updates weekly in your inbox. Sign up now.
