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There’s retail life, but it will not be as we know it
With the survey data to hand, Purple has published a New White Paper, entitled: Retail. Not Dead, Just Different. The results provide evidence of a viable heartbeat in physical stores, but also underpin Purple’s contention that retail has now arrived at a key transformational moment for critical change.
It’s a rallying call endorsed by Purple and retail guru, Sir Terry Leahy, who said: “Physical retail is at a crossroads. YES, you need to embrace technology. But this technology must embrace your customers. They demand a highly personal shopping experience as standard.”
A once-in-a-lifetime opportunity
Purple lays out an urgent blueprint on how physical stores can thrive in a new world of blended retail. The company envision a future that’s neither purely physical nor digital, but a complex hybrid of both.
Purple urge far-sighted retailers to stop seeing digital acceleration as a threat. Instead, to view it as a once-in-a-lifetime opportunity to integrate physical retail with online data collection, transforming customer connection and forging a new, profitable omni-channel future. The key lever to drive success is a commitment to customer personalisation.
Make it personal and they will still come
Purple prescribes a positive future, with data revealing over 40% still shopping in physical stores more than 30 times this last year. There’s also been a 7% increase in footfall, and a 48% increase in customer return rates, compared to before the pandemic.
Purple confirms, 75% of shoppers remain optimistic about physical retail’s future and want it to survive, although goodwill is based on expecting the same personal experience and connection received online.
Loyalty through understanding
A key takeaway, is the crucial need for retailers to understand their shoppers. An overwhelming 97% of survey respondents state retailers can improve their loyalty to the brand – while 83.5% said that personalisation or targeting would make them more loyal.
Purple describes this as a huge untapped opportunity to turn passive browsers into active, engaged buyers. Identifying that, only physical stores can turn the purchase journey into an adventure, by making it as immersive and personalised an experience as possible.
And the winner is…
Success relies on getting access to customer data while they shop, and by finding a smarter and faster way to understand their behaviours.
Fundamental is building a future based on an evolving selection of key physical fulfilment ‘showroom’ environments, transformed into – Intelligent Spaces. Replicating online connectivity, these deliver opportunities for service-excellence, more rewarding experiences for shoppers and visitors, while simultaneously generating additional ROI.
Living up to expectations
Recognising expectations are changed forever, liberates retailers to create a new seamless shopping experience that doesn’t lose contact with customers just because they leave the store.
Purple conclude that by seizing this critical moment, retailers can look forward to a profitable future for their physical stores through even higher levels of customer satisfaction and revenues.
Read Purple’s New White Paper Here: https://purple.ai/
Since 2012, Purple has been championing the creation of intelligent spaces with its innovative WiFi solutions for retail and other high-footfall venues globally.
Wherever your stage of retail transformation, Purple can help deliver the most engaging, most insight-filled retail experiences, and use data to drive significant ROI improvements across your retail estate.
