This article is part of Raydiant’s Future of Brick and Mortar Retail series featuring interviews with industry experts and thought leaders with the goal of providing actionable insights that can help brick and mortar retailers prepare for what lies ahead.
The following is an interview we had with Robin Brown, Sales Expert at Vivipins.
What are the 3-5 top trends that will shape brick and mortar retail in 2021?
RB: As the pandemic took over the element of traditional buying practices, brick and mortar retail stores need to revamp their business models. Some trends that can be predicted to shape its retail in 2021 include, Webrooming – the retail stores will showcase their available products online & customers can check the availability before being there physically. Secondly, practice social distancing. Coming up with a layout that is Covid friendly will help to keep sales consistent. Also, contactless payments – Such retailers will shift to just accepting debit or credit card payments, this will reduce contact and customers can just swipe the card themselves.
What technologies will have the biggest impact on brick and mortar retail in 2021?
RB: Digital technology will play the most pivotal role in impacting brick and mortar retail in 2021. As people become more and more comfortable with shopping online they wouldn’t want to physically go to buy products. On the other hand, these retailers could make use of mobile and in-app technology to give a competitive advantage to consumers. This move could help them greatly in increasing the decreasing profits.
What should brick and mortar retailers be doing now to prepare for 2021?
RB: Just one approach, revamping their business model. The pandemic has no chance of ending anytime soon, brick and mortar retailers can start to incorporate digital technology step by step into their business model. A combination of traditional retailing and digital retailing can help them reap great profits.
In the midst of so much change and uncertainty, what’s the future of brick and mortar retail look like?
RB: Even today, there are many consumers that like to go and purchase their daily items from brick and mortar stores but with the Covid aspect having been penetrated in, people have started to shift. Still, such retailers can make a comeback by providing niche products, giving some type of competitive advantage to their customers and introducing innovative partnerships.