More than 6400 retail stores have shut down in 2017 and approximately 3600 more are expected to shut down. That’s bad news, evidently. But, that’s not the end of the world for brick & mortar.
By 2025, physical retail stores will require a pretty strong reason to exist. But they will exist. According to Gartner, by 2020 customer will manage 85% of their relationships with enterprises without interacting with a single human.
How will the retail stores of future look like and what will be new trends in retail software solutions?
“Today, retailers cannot compete on product selection and price alone. They must compete on the in-store experience.”
— Alexei Agratchev, RetailNext co-founder and CEO.
These aren’t just hypothetical scenarios created out of thin air. Recent advancements in technology, retail software solutions, analytics, Artificial Intelligence, IoT, and Big data has helped predict the future of retail industry and it does not look anything less than bright!
Retail industry is growing at an unprecedented pace. Store owners are exploring capabilities of digital platforms to expand their business. Alibaba – a well-known retail store revealed that they earn more from mobile customers than non-mobile customers. On the same lines, eBay announced that $9.5 billion of their sales in Q2 of 2016 came from mobile.
Should you to follow the trend just because everyone around you is taking their retail store to mobile platform? The acceptance, popularity and positive results of going mobile can be some of the factors to convince you to establish a mobile presence. We shall discuss more strong points on why should you consider developing a mobile app for retail.
A physical store is fixed at one place and faces visibility issue. Through mobile app, you can go out of four walls of the store and get exposure in front of large group of mobile audience. Did you know there are over 3.3 million apps in Google Play Store and over 2.2 million apps in Apple App Store? Launching a mobile app on either or both of these platforms drastically improves the visibility of retail store.
No matter which business you run, it is important to stay updated with current market trends to survive in the market. Adapting to changing user’s behavior and preferences is the key to unlock new users and retain old ones. Considering today’s scenario, mobile app is the trend that has captured the market. It makes sense to build a retail mobile app when the trend of mobility is on high rise.
Gone are the days when retail stores used to maintain book to record information of customers. Promoting new arrivals or festive deals becomes too complicated when maintaining physical records. Having a mobile app for retail makes it easy to reach maximum number of people with minimal efforts. Sending a push notification through app is the most effective marketing technique to get captures the attention of user.
Physical retail outlets have fixed opening and closing timings, which is kind of restriction of access to customers. Through mobile app, any customer can access, buy or review products of the store without any limitations of time. When there is such flexibility of access to the store, more customers get associated with it.
When considering buying products from physical store, the customer can review all details and accordingly make a purchase. In case of shopping through app, customer can get all the transparency he/she desires through product description. Writing a brief product description and mentioning even the minutest of details in it helps in earning trust of customers.
Read More:- Omnichannel Retail: Integration of Physical & Digital Experiences
Retail store owners should consider the current market, understand end user’s behavior and survival factor in this fierce competition. If you are planning Mobile App Development for your retail store, contact Hidden Brains professionals and request for a free quote today!