PSFK Labs explores one of the major themes, Networked Purchase Path, from the Future of Retail report.
Despite the plethora of retail options now available— in-store, online, mobile, social etc.—people’s needs and expectations around shopping remain largely unchanged. They want to find the right product, get help when they need it, quickly complete a purchase and take their product out of the box when they get home. While the industry busies itself talking about the relative merits of one channel versus another, the shopper is left wondering why they can’t get the same experience across them all.
With the aid of Wi-Fi enabled technologies and real-time information streams we’re seeing the digital and physical worlds start to converge, creating a new model for the retail marketplace that is both connected and channel-agnostic. By syncing the capabilities of all of their platforms, retailers and brands can add convenience and efficiencies into the purchase path. This frees up time and attention for both associates and customers, creating more opportunities for personalized service, product discovery and relationship building regardless of where that shopping occasion takes place.
This thinking leads to a major theme from our Future of Retail Report that we’re calling the Networked Purchase Path. Within it, PSFK Labs‘ highlights multiple points within the purchase path where a forward thinking retailer or brand can effectively employ Data-Driven Commerce Platforms to meet the customer where they are and anticipate where they will go next, enabling better interactions at every stage of the sale. Read through the supporting trends of this important theme as you look to connect with shoppers at every point of their purchase journey:
- Omni Point-Of-Purchase: Tapping into shopper impulses by converting every product interaction into a purchase opportunity.
- Adaptive Personalization: Developing contextual services to learn shopper preferences over time, generating tailored results and anticipating future needs.
- Contextual Support: Serving up relevant information to shoppers when and where it’s needed most.
- Connected Relationship Management: Using shared access to customer information to bridge the gap between sales staff and shoppers and help build long-term relationships.
- Multichannel Customer Service: Providing customer assistance on more platforms, creating more staff touchpoints and enabling interactions to happen on shoppers’ terms.
- Instantly Verified: Linking payment systems to verified shoppers to make them more efficient and secure.
- On-Demand Delivery: Delivering on the need for convenience and immediacy by rolling out ‘buy it now, get it soon after’ services to get shoppers their purchases more quickly.
- Community Loyalty: Tying rewards to participation in a wider community to provide lasting benefits to both brands, retailers and their customers.
Can you offer a best-in-class experience at every touchpoint?
In the fourth edition of the Future of Retail Report, PSFK Labs brings together two interconnected themes and eleven key trends that provide a foundation for the modern shopping experience. The findings are brought to life with best-in-class examples, actionable strategies and leading questions to inspire leading retailers and brands.
Images: Marketing Directo