Luxury Daily – Physical retail is not dying, but brands need to adjust to consumers’ digitally informed expectations. Despite many industry insiders predicting that bricks-and-mortar will be phased out, a November 2015 report from Boston Retail Partners noted that 90 percent of retail sales transactions still occur in-store.
Boston Retail Partners’ “The Future Store Manifesto” focuses on how future retail will be an “omnichannel theatre blending the physical sensory experience with the convenience of digital,” a strategy that is slowly being implemented by retailers across industry sectors. As consumer expectations have shifted toward increased mobile interaction, retailers have been faced with challenges, and necessary adaptations are needed to deliver the experience expected in-stores (see story).
Enhancing customer experience and customer engagement is retailers’ top priority, according to an executive from Boston Retail Partners speaking at the Mcommerce Summit: State of Mobile Commerce 2016 on May 5.
Consumers have embraced mobile devices, and improving their experience equates to meeting their needs on that platform. From the business’ perspective, integrating a unified commerce experience will not only improve service but also increase productivity and mitigate costs (see story).