Store of the Future...are you ready?
Here is what I envision for the store of the future, where points of pain are and advanced/innovative approaches you should consider developing, be a champion for teaming with your IT, Point of Sale, Data Management, Analytics, Store Experience, Customer Experience, Customer Innovation, CRM/Loyalty teams. This point of view is shared as "your" inspiration, and guidelines to meet today's challenging retail environment and delight your customers.
Data/Big Data – we need to be at the leading edge at collecting data (accurately), matching it to customer, managing the changing status or residence of the customer over time so we don’t lose touch with them and applying automated as well as predictive (for campaigns) analytics that measurably lifts store/enterprise business metrics.
Clientelling and Personal Shopping Informed by Data and Two-Way Dialogue – we need to deliver data to the store associate so they can know when the customer is about to arrive at the store, communicate with the customer in advance of arrival (either initiated by the customer or through two-way dialogue close to visit) and have the shopping experience orchestrated to make it more satisfying and convenient for them to shop/complete the sale.
Music & Entertainment & Internet/Cloud/Cellular Access – a universal attraction for all customers by taste/interest and something we should consider getting into as an extension of the business offering. For example, Music, Video, Content downloads as a benefit to customer reward program participants. As program sponsor, pay the use cost, pass the content through to the valued customer, perhaps find partners to fund it. It provides a neutral entrĂ©e to learn about the preferences of the customer, encourages two-way dialogue for insight, based on their demographics and observed behavior overall to then leverage that insight to optimize their experience with the brand and apply it to future brand engagements such as promotion, sweepstakes, in-store events plus contribute to the central repository of knowledge.
Recognition/Reward – key fobs and cards are going away. We need to build a mobile app leveraging Apigee for example that makes its utility essential to our customer. It must encourage brand engagement, capture preferences, encourages two-way dialogue and provides seamless access to "conceirge" like customer service. Put all your brand access and functionality in one place - not multiple apps. Identify your preferred form of payment. Pay with smartphone and unique ID which is recognized by point of sale. Innovate with our credit card issuer to provide a universal card that runs the payment processing rails, has a smart chip in it and everything is stored on the chip including paperless coupons/offers downloaded from online and in-store geolocation, also fully sync’d with your mobile phone.
Personal Service – to distinguish our stores and succeed in the highly challenging retail environment/support the store of the future, our mall based locations especially will need to deliver personal service to customers. We need to re-invent our store shopping experience and improve not only how we onboard and train our associates, but how they are compensated and what information they have at their disposal to support customer service.
Call Center – this is a big one only in so far as leveraging data and achieving coordinated access to it, consistent coding of calls, dashboards with advanced visualization/reports to manage the call result and corresponding response. If we don’t have it at present, we should build a capability here and address the failures of call centers – especially in certain verticals – cable and phone service for example and BtoB as well where heavy call volume is a constant requiring satisfying same day ordering/delivery. Likewise, how the call center can provide better solution/service to the store associate when addressing a customer need/inquiry or to complete the sale.
Self-Checkout – in an effort to reduce cost to serve – this is a hot topic. Ordering in advance and having your basket prepared for you and you self-checkout with everything pre-scanned. For example, groceries of the future will be reduced in scale and home delivery will continue to grow in use. Need to consider leveraging opt-in, preference for payment, giving personal service/personal shopper and using data insights plus two-way dialogue all coming together to describe how the store of the future can/will deliver product and service in a more convenient way to customers. In the QSR/Casual Dining category with the issue of minimum wage having a very negative impact on earnings and desire to cut down on staff in the store/at the register – learn from market examples such as GrubHub, greater use of drive-thru and customer’s willing to order in advance to achieve a more convenient experience, plus leverage the connected auto to come in partnership with the auto industry.
Health & Wellness – not sure how best to apply it to the store of the future, but we need to brainstorm this. Will remain a hot topic with the aging of the population. Are there better ways to deliver content to customers through the store, through social media and through communications to positively impact store preference, encourage social sharing, generate more positive feelings about the brand – because the brand cares about me, about me and my family – it’s a good thing.
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