Today’s customers expect great service, excellent selection, and competitive pricing. And they not only do not care whether that’s online or at a physical location — but they also expect to be able to “mix it up” a bit. Customers have come to expect that if they order an item online, they can return it in the store, for example. 

Retailers want to embrace the omnichannel methodology but they realise they can’t be all things to all customers. While it is true that today’s shoppers, and in particular Millennials, want to purchase goods and services through different channels, many retailers are still struggling to adapt to the latest iteration of retail reality in which shopping takes place 24/7, and may start in one channel and finish in another.

For years, retailers have looked for ways to influence shopper behaviour, from the early days of paper punch cards to sophisticated big CRM and ERP systems. Since then, loyalty programs have evolved from basic check-in solutions to more sophisticated check-in solutions that were able to communicate with shoppers via mobile app, text or SMS messages, and email. 

Traditional retailing seems no longer relevant to the current overview of the industry. Customers nowadays either do their shopping entirely online or buy the items online and pick them up in store. This means it’s time for the sellers to reinvent their supply chain management as well as the inventory fulfilment process.

Operational cost cutting has always been a retailers’ favourite tool to boost their bottom line. It is even more crucial for Walmart as the giant’s key competitive edge is price. And Walmart has found that substantial cost savings can come from seemingly small actions.

Online shopping is moving onwards and upwards. Consumers now can buy basically everything without ever setting foot inside a physical store. And when it comes to e-commerce, no one can escape the shadow that Amazon casts. But that does not mean all brick-and-mortar retailers are getting crushed.  

In the previous blogs, we have discussed many topics in regards to emerging trends for retailers in the digital age, their effort to enhance sales, engage customers and improve the overall in-store experience. There is another aspect that is equally important to the success of today’s retailers – empower the store associates with an integrated retail system.

The competition in the retail industry has always been brutal. Those who fail to provide their customers with a smooth, exceptional service are being left behind in the race. The retail overview in 2018 and beyond is revolving around personalisation and connecting directly with each consumer. When a customer feels that they are at the centre of the shopping experience, they stick around and buy more. To achieve this, a retailer must understand what motivates and appeals to its different customers.