JOURNAL

THE POWER OF PHYSICAL RETAIL

As we slowly start to understand the new landscape of retail in a post-pandemic world  - there are still many uncertainties surrounding the future of physical retail. We have seen e-commerce thrive to an outstanding level - but where does this leave us with the ability to shop in person. And how is it best placed to support your business?

I'M A BELIEVER...

I'm not going to use this as an opportunity to present my unwavering passion for the future of retail. But I will share 5 examples of why the opportunity to shop your product "in real life" will support your online business.

This does not need to be in a full-time location. But considering pop-ups locations, markets or spaces within other retail stores can be very beneficial - and work hand-in-hand with your online platform.

 

REDUCED RETURNS

In-store returns sit at roughly 8% - while online returns sit at around 25%. Product bought in person has always been a lot less likely to be returned. The customer has had the opportunity to touch, feel and really experience the product first hand, so are more assured of their purchase.

 

ADDITIONAL PICK UP ITEMS

Consumers are more likely to purchase additional, lower-priced items in addition to a larger purchase when shopping in person. There is an element of time sensitivity with physical shopping, whereas online they can revisit the site at any time. This time sensitivity is more likely to encourage consumers to "pick up extras".

EXTRA WEBSITE TRAFFIC

If you are well presented and a consumer likes what they see they are likely to want to visit your online store to learn more. Both about you and shop the wider collections you offer. Whether in a pop-up location or at a market stall - make sure you are creating an easy journey for customers to find you online. The simplest way to do this is through the use of a QR Code linking to your website.

 

CONTENT

 

Having your stock in a physical location gives you a new element of content and imagery in which to drive your brand. Seeing your product in an alternative space - or through a different channel will create kudos in terms of branding content.

 

MORE LIKELY TO BUY

When a brand is new, it is more likely to sell if the customer can touch and feel the product for themselves. Great customer reviews, increased social following all come with time. The first 20 sales can be the hardest, especially online. A customer is less likely to be bothered by the branding of a business if they can experience the product in real life.

 

 

You will see from these 5 examples why physical retail location will support the growth of your online platform. And as consumers continue to look for an omnichannel approach to their shopping experience - brands should be thinking creatively in order to serve.