The state of retail is a complex situation. Here’s how your brand can experience real results in a challenging retail environment.
The media is calling it the retail apocalypse.
Big time retailers J.C Penny, Macy’s, CVS, Payless and others have all taken a hit, filed for bankruptcy, or closed down a sizeable number of their stores for good.
In just over the first three months of 2017, nine retailers went bankrupt.
That’s as many as 2016 overall.
And according to The Atlantic, millennials hate grocery stores. Instead, they prefer eating out or ordering online for fast-casual dining experiences.
But it’s not just that highly sought-after generation; it’s their parents, too. In 2015, economist Mark Perry concluded that U.S consumers were spending more on food outside of their homes than at grocery stores for the first time ever.
Sounds like pretty scary stuff for a local or mid-size food or beverage brand fighting for shelf space in c-stores and groceries.
If you want, blame Amazon and the rise of e-commerce platforms for affecting so many of our beloved brick and mortar stores.
While that may be the case, aren’t there still two sides to every story?
Amazon and big e-commerce giants had an obvious insight that many successful retailers were missing out on or hesitant to admit:
Consumers want convenience.
For consumers, knowing that there’s value in the products they purchase is convenient. Ordering from the comfort of your couch is convenient. A return policy that’s all hustle and no hassle is convenient.
Convenience is so simple that it’s profound. Amazon came to that conclusion a little quicker than others.
Now, with same-day delivery, in-store pickup, and personal shopping subscription services, grocery stores are catching on. Consumers want convenience.
It’s up to your brand to connect to your consumers and offer the value they demand.
In 2018, 81% of retailers were expected to compete in omnichannel retail environments. This is so they can encompass more than just physical stores, but also digital, social, and mobile-app experiences, too.
Explore the best options for where your brand fits in between the physical and digital shopping realms.
Remember, it’s all about value for them and real results for you. Determine who to engage and when. Launch opportunities that fit for each channel whether it’s targeted social media ad campaigns or in-store sampling opportunities.
Incremental lift in retail is still achievable for your brand, even if the current state of retail means many stores are missing on the map. Meaningful consumer connections will help get your product off the shelf. Consumers want convenience, but they also want value. Honesty. Authenticity. So give it to them.
Or let us help.
