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Importance of Physical stores alongside Ecommerce - Omni channel Retailing

Krishnan Sep-5th , 2018 0 comments

As they say, what goes around, comes around. After the possibility of E-commerce, it looked like physical stores would be put out of business. But some of the latest studies show that this is not so. Major E-commerce players are shifting from simple click to click & brick. Big players like Amazon and JustFab have started setting up their own four-walled stores. This is because with this omnichannel strategy retailer have seen an improvement in customer engagement. Here is how:

Customer Habits and Behaviour

Any retailer knows that to increase his sales and grow his business he needs a strong understanding of his customer base and their habits. With the application of a good Cloud Retail application, the retailer is now able to compile a much more extensive view in to the behaviour and trends among their customers. This especially true for retailers who have set up click & brick retail formats, they are able to get a 360 degree view of the customers. With such an improved view of the customer retailers are able to provide customers with a better and more consistent experience for their customers.

Increase in Footfall online

Since the time of age-old word of mouth has been the best mode of advertising. This stands true even today. L2’s report Death of Pureplay Retail says, that there is a direct correlation of online traffic to the number of physical stores set up by a retailer. The more physical stores you have the more people are talking about your brand and the more people are searching for your brand online. Simply put physical stores have a surer shot at increasing customer engagement for your brand.

Letting the customer experience the brand

One of the trickiest aspects of E-commerce, especially in today’s market, is creating brand loyalty. Earning the loyalty of a customer is hard enough but with competition popping up at every turn keeping this loyalty is harder. This is where a physical store shines. Most E-commerce retailers aren’t opening physical stores to sell their product. It is to provide the customer with an environment where they can immerse themselves in the brand experience. If done properly these experiences can create a lasting impression on the customers and have them come back for more.

These are but a few major reasons why Online retailers are opening up physical stores. They also have learnt that there are gains in sales and logistics become easier too. Also with a good Cloud based Retail software, a retailer can maintain their inventory much more efficiently and seamlessly manage both the physical and online stores. What do you think about this new trend in retail? Let us know at sales@retailbeanlite.com

 

Image courtesy : https://ecommercenews.eu/

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