The changes happening right now on the retail landscape are
by far the most sweeping changes retailers have ever experienced; and the end
is nowhere in sight. The question is:
Are you ready? And ready for what?
Our changing world has
revolutionized the consumer; gone are the days of unrewarded loyalty and little
competition. Shopping choices are endless, and those choices will force you to
change the way you do business. In today’s hyper-competitive market you must
utilize every tool available to you. And
then some.
Easy living
In 1969 Zager and Evans wrote a song called In the Year 2525. (If you’re old enough
to remember it you’ll be humming it for days. You’re welcome. ツ
)
The lyrics included, “In the year 5555, Your arms hangin' limp at your sides, Your legs got nothin' to do, Some machine's doin' that for you...”
We’re not there yet (whew!) but we could be on that track. Easy
access to technology has created opportunities for all sorts of retailers. And
it’s made it easier for shoppers. For example:
q You don’t
even have to get off the couch to shop at HSN. That’s right, the Home Shopping
Network lets you order product using only your TV remote control. Or you can kick
it old school and place your order via telephone, on-line, or mobile app.
q Leave
your wallet at home on your next visit to Starbucks. Simply download the
Starbucks app, set up an account, buy a Starbucks gift card, enter the number
on the back of the card into your smartphone, and load the card with cash from
your credit or debit card. When you’re ready to pay, initiate the app and your
phone will display a barcode the barista will scan. Simple, easy, in and out.
q Hate
sales people? Then you’ll love shopping at Apple, because with Apple’s Easy Pay
app you never have to interact with a real person again. The Easy Pay app jumps
to attention whenever you enter an Apple store. Simply choose the accessory
piece you wish to purchase (it doesn’t work with computers or tablets), open
the app, scan the barcode, log-in with your Apple ID and you’re good to go. The
app thanks you for your purchase and sends you a receipt via e-mail.
q On-line
grocer Peapod has made it easy for tired commuters waiting for their trains to
arrive at Chicago “L” stations to do their marketing. Instead of gray walls
dotted with graffiti and lined with advertisements, the “L” stations have been
transformed into life size virtual supermarket aisles. Need milk, eggs, and
laundry detergent? Easy. Scan the barcode on the virtual store shelf and the
items will be delivered to your home within a day of placing the order. Next
up: product pick-up stations where you can pick up your order instead of waiting
for home delivery.
This future technology is easier than you might think. Start
off with QR Codes, those funny little
black and white boxes that hold a wealth of information. We’re seeing QR codes
all over the place these days: in magazines, on ads, billboards, store windows.
Everywhere, including an airplane pulling a sign with a King Kong sized QR code
behind it. Good luck trying to scan that baby…
The best use of QR codes is right on out sales floor. HomeDepot, Best Buy, and Macy’s are committed to QR codes. You‘ll find them
in-store on signing, POP materials, as shelf talkers, and on the hang-tags that
go home with the customers after purchase. Want to teach customers how to use
your product? Use QR codes, they’re free and easy to make. Google QR codes and
hundreds of free sites will pop up. You’ll be in the information sharing
business in no time flat.
Consumer Trends
Your customers are changing, too. There’s a new kid in town,
a consumer who likes to share the cool things they find. Trendwatching.com, a
company that scans the globe for emerging consumer trends, insights and
innovations calls them Socialites.
Socialites are shoppers who have moved from “I gotta have
it” to I gotta share it”. They’re curators who enjoy telling the world via
social medias about their favorite products, places, and experiences. Imagine
the impact this could have on your business!
Socialites play into what Trendswatching.com calls the F-Factor, a trend that is critically
important to retailers. If your customers interact about your product and/or
store with their networks of friends, fans, and followers, your store better be
worth the trip. The F-Factor helps customers determine where to go to buy.
Friends Don’t Let
Friends Search Alone
You need to book a hotel, but you aren’t familiar with the
city, so you go to a site like TripAdvisor.com and read the reviews. The thing
is you have absolutely no idea who wrote them. Those nasty comments could have
been written by a cheesed off competitor. Enter Bing and Decide Search with
friends, the search engine that allows you to interact with Facebook and
Twitter friends to get the inside scoop on all sorts of things.
Good, Old-fashioned
Retail Ingenuity
Not every new trend has to do with technology. More and more
we’re hearing about independent retailers looking for new ways to reach
customers. Mobile stores are huge, just ask Amy Chase, owner of Haberdash Vintage in Boston, Massachusetts. Amy’s mobile shop is a truck that moves to a
new area each day, using social medias to help shoppers find her. But Amy isn’t
alone, mobile shops are popping up all over the U.S.; even big names like
designer Cynthia Rowley, and the chain store Madewell, are using mobile shops
to increase visibility and sales. Think of what this could mean to your
business.
Fine dining at the
grocery store
Most people go to the super market, grab a cart, and start
to peruse the aisles. Shoppers do that at Wegmans Food Markets, a family-owned
regional supermarket chain headquartered near Rochester, New York too, but they
also go there to be entertained.
Wegmans understands Shoppertainment, that unique combination
of shopping and entertainment that keeps customers close. On a typical Friday
night at Wegmans you might find people enjoying a wine tasting in the store’s
Pub – an honest to goodness, in-store full service restaurant that’s located
right in the store. You might meet a family taking enjoying free movie night,
couples ballroom dancing, or rocking out to a live band. Wegmans cult following
is so strong that earlier this year a high school honored the chain with a full
on production of “Wegmans…The Musical!” How cool is that?
So, what does this
mean to me?
We could fill this entire magazine with retail trends that
will ultimately change how you do business. Early adoption is critical because
customers today expect you to have all the answers. We’ve created this exercise
to give you a starting point and to get your creative juices flowing:
q Draw
three columns on a sheet of paper.
q In the
left column, list new trends you’ve seen or enjoyed in other businesses that
you think would work well for your business.
q In the center
column, list ways you can spin each idea to make it easy-to-implement and
unique to your store.
q Keep
this worksheet in a convenient place, but don’t look at it for a day or two.
You need some time to move away from your initial thoughts.
q In a few
days, review the ideas in the center column. Then use right column to expand on
them, adding ways you can get the word out about your new services, conveniences,
events, product, technologies, etc.
q Ask your
team to do the same exercise. Let them know that it’s okay to think outside the
box and that no idea is a bad idea. You’ll be surprised at how many ideas
they’ll generate – things you may never have thought up by yourself.
Retail trends will come and go, what excites shoppers today
will bore them to tears tomorrow. Keep up with what’s new, hot, and happening.
And when you see a trend with potential, don’t be afraid to use it to your
advantage!
COPYRIGHT KIZER &
BENDER 2012 . ALL RIGHTS RESERVED
