Over the past twenty years, many in the retail industry have predicted the demise of the physical store. But the reality is, the store is still the foundation of retailing. It is where the tactile and sensory experience comes together for the consumer.
One year after The Future Store Manifesto was published, BRP issued a scorecard to evaluate how retailers are progressing along the road to the “future store.”
The Future Store Manifesto – 2016 Scorecard, sponsored by Salesforce Commerce Cloud, highlights how retailers are changing their initiatives to align with the key future store imperatives: mobile, relevant, personal, ubiquitous and secure.
The digital world is infiltrating brick and mortar stores, where consumers are equipped with smartphones and a new set of expectations. To succeed, retailers are infusing digital features into the store environment to personalize the shopping experience, compete more effectively with online pure-play retailers and exceed customer expectations. The store is not dead, it’s digitized.
The physical store will continue to be the heart and soul of retail operations for the foreseeable future, however, a transformation is in process. While the store isn’t going away, it’s already starting to get a whole lot more connected, mobile and smarter.
The unified consumer experience is table stakes today, and retailers know it. They don’t question why they should do unified commerce. They question how – as in, how to break down the silos between digital and store systems to get to the omni-channel use cases. It all starts with a move to a single, real-time view of the consumer, prices and inventory availability across all channels.
Here are a few of the key findings in this special report:
Mobile – 78% of retailers plan to use mobile
POS to enable associates to complete a customer’s purchase on the sales floor by the end of 2018
Relevant – 58% of retailers plan to utilize geolocation within two years
Personal – 51% of retailers plan to offer suggested selling based on what is in the customer’s closet by mid-2019
Ubiquitous – 50% of retailers will allow a customer transaction to start anywhere, finish anywhere within five years
Secure – 88% of retailers plan to have end-to-end encryption (E2EE) implemented to ensure data security by 2019
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