[ 10:30-13:24 ] Three levels of technical tools to attract people to stores.
Three levels that definitely are the future. Level one is Click and collect and real-time inventory visibility. Level two is to sell products through social media. Level three is live stream shopping. But you still cannot replace interaction with personnel from the brand, physically.
[ 14:39-15:17 ] Engagement with stores is now a basic necessity.
Retailers can still use the old KPIs, UPT, average basket value. Because it's that magical moment, the moment when the customer enters the store. If you provide a seamless experience in-store the customer may end up buying more than he originally intended to. This little moment in your physical store is the key to stabilizing your turnover.
[ 15:37-17:14 ] Store associates should be able to engage the customer in the virtual world.
Your store associates can be social media influencers. They could engage with customers online via social media, video chat, or live streaming. They could also embed the link to shop the product during these interactions. Also, the store should have eCommerce capabilities to support these activities. This way your store associates can become a brand advocate, an influencer and an ambassador of your omnichannel capabilities.
[ 21:19-22:49 ] How can we value retail stores more for the employees, internally?
We definitely need physical stores or you risk becoming irrelevant in the future. But how to be more focused on customers? Start with the store associates. Store associates get swamped in the multiple tasks. As a result, they are unable to connect with the customers. Retailers need to invest in technologies, incentivization, and training of store associates in order to bring back the passion in them.
[ 31:55-33:14 ] How to save on the increasing online customer acquisition costs?
Motivate your store associates to interact with the customers, deliver a brand experience, and in that process enroll them in the brand's loyalty program. Essentially, create a database. If not, then capturing this data online is super expensive.