In the August 11 webinar, “Preparing for Holiday 2015,” facilitator Shelley E. Kohan (@retailshelley) provided a wish list for retailers to capture the opportunity that lies in front of them. But, before stepping forward into Holiday 2015, she thought it first prudent to look back on how retail has changed since Holiday 2014.
With the long-promised omnichannel shopping experience finally coming to fruition, retailers have been slapped across the face with the cold, hard reality of the “new normal” for brick-and-mortar stores – the first half of 2015 has seen consistent year-over-year declines in traffic and sales.
Yet, perhaps no better indicator of the store’s changing role can be found than in the steady upticks in conversion and Sales per Shopper (SpS). When shoppers shop stores, they shop with a strong intent to purchase.
Five trends have emerged in the first half of 2015, and Shelley added a bonus 6th trend to watch out for heading into 2016
- “Digical®” retail – the convergence of digital and physical channels
- Knowledge deficiency gap – consumers often are more knowledgeable than sales associates
- Frictionless store experiences – removing “pain points” in a shopper’s journey is rewarded
- Buy Online Pick up In Store (BPOIS) – it works (but only when it’s executed seamlessly)
- Retail format redux – a paradigm shift in store size and format
- [Bonus] Proximity marketing – genuine, authentic and relevant are key
The challenging first half of the fiscal year has put an even bigger emphasis on the 28 shopping days of Holiday 2015. Starting with “reinvent Thanksgiving,” Shelley provided three big takeaways for all retailers. Additionally, she added the “salient seven” to round out retail’s Holiday wish list.
To glean all of Shelley’s Holiday 2015 insights and recommendations, be sure to watch “Preparing for Holiday 2015” as part of RetailNext’s webinar on demand offerings. Additionally, for those participants in the session who asked for the slides, those are also available for download.
Stay tuned for the next installment of the RetailNext webinar series. Keep your feedback and suggestions for future sessions coming!
Digical® is a registered trademark of Bain & Company, Inc.
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