Chapter 4: The store will become central to a unified shopping experience
Brands and retailers are giving new life to the store as an extension of the digital shopping experience.
Chapter 4: The store will become central to a unified shopping experience
The store still plays a critical role in the shopping journey, with 82% of the $23 trillion worth of sales occurring in physical locations in 2020.
However, shoppers are blurring the lines between digital and physical channels while in the store. Data shows that the store, the associates, and the point-of-sale (POS) technology can no longer stand alone from the rest of the brand experience. Instead, they will become an integral part of a unified engagement platform.
57%
of shoppers have purchased a product online to pick up in-store
29%
of shoppers have researched a product online using a mobile device while in-store
25%
of shoppers have scanned a QR code to learn more about a product while in-store
Unified engagement brings digital and physical worlds together
“With the pandemic threatening our busiest time of the year, the holiday season, we introduced virtual try-on, virtual stylists, and appointment booking — all of which enabled a smooth and safe shopping experience for our customers and contributed significantly to our revenue.”
The store associate becomes a jack of all trades
“Store associates are our biggest brand ambassadors. We must do everything we can to make them more productive, empowered, and happy.”
The point-of-sale sits at the heart of the store
The last time most retail executives replaced their POS technology? At least six years ago.
The POS will become an integral component of a unified engagement platform, with the majority (54%) of retail executives planning to replace it with a cloud solution by 2024. Retail executives will move away from legacy software from servers in backrooms and hardcoded integrations to cloud architectures that offer continuous innovation and empower associates with mobility throughout the store.
Most retail executives plan to replace the POS in the next year or within two to three years.
What retail executives want in the next-generation POS
The majority of retail executives want the next generation POS to be connected to the digital commerce experience as well as to data and functionality in service and marketing. It’s critical for cloud POS to provide access to a single view of the customer, product, inventory, price, promotion, and order data, particularly through a mobile app for associates to use throughout the store.
Retail executives say the top five must-haves for the next-generation POS are:
Next steps in the age of unified shopping experiences
The pandemic accelerated changes in the ways shoppers interact in the digital and physical worlds. Retailers and brands reacted quickly as shoppers embraced new channels and options. Now, retailers and brands are moving from scrappy to scale as they adapt to continued shifts and heightened shopper expectations.
To scale efficiently and effectively, brands and retailers need the foundation that gives them access, agility, and intelligence to meet shoppers where they are, redefine the store as a critical touchpoint, and drive loyalty through personalised engagement. Many are upgrading their technology, increasing access to data, and investing in new channels for browsing, buying, and service to keep pace with — and stay ahead of — change.
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