by Avi Shoss
Experiential and immersive retail. Pop up stores. Concept stores.
These are some of the most prominent trends retail is exploring as the industry races to adapt to evolving customer needs. For internationally-recognized labels and emerging digitally-native brands alike, the name of the game is a new in-store experience.
So what does it take to succeed in this brave new world of experiential retail, and how can you compete?
Above all, let thy customer be thy teacher.
Digitally native brands like Warby Parker (eyeglasses), Bonobos (menswear), and Allbirds (shoes), invested early in learning from, and catering to the wishes of their shoppers. Armed with consumer behavior data, they are successfully expanding their physical presence and consumer engagement.
The three services you need today to compete in the retail of tomorrow
Even without a budget like Amazon’s, you can still take action today to stay relevant and competitive in the retail world. Here are the top three steps you can take to be ready for success in the future:
1. Re-imagine your layout to better fit customers’ shopping habits
Employ AutoCAD services to create accurate drawings of the best shopping experience you can provide to your customers. You know their habits and needs. Leverage this valuable data to keep them coming back, bringing their friends, and truly enjoying their shopping experiences with you.
2. Stay put while you scale
It’s not always cost effective or feasible to open a new location. But that doesn’t mean you can’t offer the best version of your company to your customers.
Engineering consulting services can help you transform your existing space into the store of your shoppers’ dreams. EBI Consulting has a team of engineers, operators and technicians to assist in the design, oversight, and validation of engineering and construction projects, no matter how small or large.
3. Do better by the environment and your customers, and improve cashflow
Today’s consumers want sustainable stores with the best products from ethical manufacturers. Deciphering the supply chain for each product on your shelf is a daunting task, but minimizing your carbon footprint with sustainability and energy efficiency projects, while maximizing your cash flow, doesn’t have to be.
In fact, sustainability and energy efficiency programs are often the quickest projects to pay back, help reduce overhead, and show consumers you care about more than just profit.
Increasingly, consumers are aligning themselves with brands that work to minimize their environmental impact and highlight their sustainability projects.
To successfully implement this step, begin by assessing existing systems, identifying improvements, and providing your stakeholders with the economic analysis to justify taking your store – and your entire value chain – into the new millennium with retro-commissioning services.
The Takeaways
Retailers are under enormous pressure to capitalize on the wealth of data at their disposal, and the new trends that promise to redefine their industry. The smartest way to accomplish this is to ensure that every potential investment receives comprehensive and integrated due diligence from an experienced partner, and brings tangible results to the business.
Avi Shoss
Avi Shoss is and Account Executive at EBI Consulting.
