Article published on RISnews
A common thread among today’s successful retailers are stores with fast, convenient, omnichannel services. It sounds simple, but a record number of stores failed in 2019 and many actually offered basic omnichannel services.
Why did they fail? Aside from having over-leveraged debt (another common trend) these stores shared two big problems that prevented them from succeeding: 1. The few omni-services they offered were underfunded, poorly executed, and frustrated shoppers attempting to use them, and 2. The back-end systems in place were also under funded, poorly executed, and frustrated store and headquarters personnel attempting to use them.
In this Targeted Research report we examine the specific technologies and strategies needed to create smart, omnichannel stores that match tech-savvy, time-crunched lifestyles of modern shoppers.
SMART STORE STRATEGIES
How important is it for retailers to adopt a smart, store-of-the-future strategy to succeed with today’s consumers? Overwhelmingly important, according to 81% of retailers. This figure includes 31% who say it is extremely important, 31% who say it is a major factor, and 19% who say it is somewhat important. (See Figure 1.)