Covid-19 has accelerated a long-term retail trend: millions more shoppers are buying online instead of instore. But while physical visitor numbers have fallen, the pandemic has created vast opportunities for retailers to rethink their brick and mortar assets.
In fact, we can already see several positive impacts:
- Instore shopper numbers are down, but conversion and average transaction values have risen. Those visiting stores are intent to purchase.
- Retailers are embracing new payment technologies including cardless and contactless which accelerate purchases and limit human interaction
- Restrictions on occupancy is causing retailers to rethink store displays, payment points, and their wider physical footprint
- Retailers are embracing new shopping journeys including Buy Online Pickup Instore, and experimenting with ways to increase basket spend and personalise journeys to increase loyalty at every touchpoint
Physical stores are a primary point of differentiation for legacy retailers. There may be fewer customers instore, but that doesn’t have to mean a fall in profits.
Read our whitepaper to see how Flooid’s wide network of innovation partners, including collaborators like Intel and the Open Retail Initiative, are helping retailers to:
- Save the sale with endless aisle
- Increase basket spend and average transaction values
- Use mobile POS for queue busting and flexible checkout
- Personalise sales
- Attract customers instore, while allowing them to feel comfortable by limiting staff interaction and the proximity of other consumers.
Flooid works with some of the world’s leading retailers. If you would like to learn more about Flooid’s capabilities, please Contact us.
23rd May 2023
POS evolution: Making mobile-only stores a success
Flooid Blog
19th May 2023
Giving retailers the power to adapt with micro front ends
Flooid Blog
18th May 2023
Flooid thinks: Martyn Osborne
Flooid Thinks
10th May 2023
Five hot topics from Retail Technology Show
Flooid Blog
20th April 2023
Ones to watch at Retail Technology Show
Flooid Does
17th April 2023
Meet Flooid at the Retail Technology Show
Flooid Does
14th April 2023
Inside the partnership: Flooid and Google Cloud
Flooid Blog
13th April 2023
Fresh start for Flooid’s Give Back Committee
Flooid Blog