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.
Read our whitepaper to find out more