The future of retail
Long gone are the days of air conditioned shopping malls being the empire of retail and the way we shop. Now retailers are fighting for ways to benefit from the dominance of online shopping and reclaim their space. Retailers who have invested in technology are seeing immediate results, with launching their own online stores and seeing it as another outlet to their business that allows for access 24/7.
Making money while we sleep is an aspiration for all business owners and if you continually invest time into how this can be achieved in your industry, I’m sure you will find many options. I predict, in coming years, retailers will not only look to expand their presence online, but also expand their customer experiences. We have already heard from MYER stating they have invested $25M into customer service, with staff incentives, staff training and more staff on the shop floor. We are now seeing trends of retailers further expanding with their own concept stores, and coffee shops and salons in stores like Gap.
So what can we do to extend our customers experience with our brand?