The Physical Store: New Realities / New Opportunities
This is an op-ed from the team at ChaseDesign. On January 12th, 2021 at 1PM, ChaseDesign and their partner, Simpactful, will be hosting an hour-long deep-dive into The Physical Store: New Realities / New Opportunities. To participate in that conversation, please RSVP at Retail Innovation Week.
Reimagining Retail: Delivering More Than Digital Convenience
The challenge facing the retail industry today is stark: When buying goods mean consumers no longer have to actually step inside of a store to shop, physical stores risk of becoming mere points of fulfillment, differentiated only by level of convenience. The pandemic has encouraged a kind of technological arms race to find faster, better and easier ways to streamline or even avoid in-person shopping altogether.
The need for these shifts today is self-evident; they’ve been essential. But buying convenience without shopping passion is another way of describing a vending machine. And in a larger retail setting, this kind of functional ease turns shopping into a simple replenishment-based exercise.
While appropriate in some low-involvement categories, when this becomes the experience across a whole store, the opportunity for lasting differentiation and meaningful shopper engagement is diminished.
And herein lies the opportunity: Retailers and brands must create the new experiences and models that deliver on buying convenience shoppers need, while also delivering the inspiration, discovery, and delight that shoppers want.
We’ll be discussing these new dynamics on day two of PSFK’s Retail Innovation Week, where the day’s focus will be all around the evolving physical store experience. Our session, called “Physical Stores: New Realities, New Opportunities,” will include experts from ChaseDesign and Simpactful Consulting, featuring former VP of Merchandising at Kroger, Jill McIntosh.
We’ll discuss the innovations in physical store experience and designs that are capturing our imagination today, and what’s coming tomorrow. The session will cover:
- Innovation, imagination, and bold choices. Our panel will discuss which retailers and brands are unlocking new possibilities in the physical store today, and what’s coming tomorrow.
- Delivering delight at retail. Brands and retailers have the power to create destinations, experiences, and deliver shopper delight. We’ll examine how forward-looking retailers are maximizing this opportunity.
- Taming the checkout paradox. It’s the #1 pain point in delivering ease of procurement and fulfillment for shoppers. And well-intended solutions risk lost revenues for retailers and brands, while creating new shopper pain points. We’ll discuss how retailers are overcoming this challenge, and winning.
Come, listen, discuss and learn as we examine how retailers and brands must evolve their strategies and approaches in 2021 and beyond.