29th July

A Digital Flagship Experience.

Used more loosely, a Flagship is the lead ship in a fleet of vessels, typically the first, largest, fastest, most heavily armed, or best known.

This can be directly relatable to your product services and offerings. As a brand, which channel will you position to become your Flagship experience? Given the digital purchasing trends, a Digital First Flagship store would be laying down the foundation for your future success.

At first glance, how is a retail store perceived by a customer ?  What do customers expect from a retail store? What appeals to them? And conversely: How can the retailer arouse their enthusiasm? Once acquiring the answers to these questions and thus understanding the customer, the last question remains: How can digital solutions not only incubate but also develop a sustainable customer relationship for retailers?

Yes, time is a precious commodity – if not the most precious in today’s fast paced world. It is therefore easy to assume that customers would like technological solutions in retail stores.Think about it, how many times have you often become impatient waiting in a long queue just to check out your purchases? Today’s customers are no longer willing to accept digital weak spots in the bricks-and mortar shop environment. Customers nowadays are willing to even change the brand that they have been loyal to for years-on-end in order to shy away from archaic means of purchasing retail goods.

However there is a misconception that consumers want everything, faster. Speed is indeed of essence but it does not represent the whole pie. Consumers want the right product at the most convenient time, at the highest possible quality and all through the most accessible platform.

Back in 2019, the company Grassfish conducted a study based around the digital flagship phenomenon in retail and had been studying the trends for approximately a decade. They  investigated the interaction at the intersections within a store and have even developed a platform which can control all the digital equipment from sensors to tablets. It is not surprising that different age groups have different expectations of the retail sector. Here are some insights:

 

  • As expected, younger customers who live in faster worlds compared to their predecessors responded to an improved shopping experience through digitalisation within the store,
  • Older customers in general would wish for a better exchange with the sales staff.
  • Pre-exploration and encounter seem to be the motives for Generation Z and Millennials
  • It is a given that most of their time is spent on researching products online rather than exploring in-store. They would know what to find in the store before actually stepping foot into it. This goes in line with the efficiency aspect of purchasing goods. You research, you go to the store, find the specific premeditated product, grab it, buy it and you’re off. This means that unless the retailer manages to offer this offline and online link to these cohorts, then surely, it will lose them.

The Bricks-and-mortar aspect can not be forgotten. It is crucial to find common ground between the former and the digital world by creating an interlinked shopping strategy. The best way would be to develop a platform which will link the appliances and integrate the digital systems into the store environment and simultaneously provide optimal support for the customer. In the modern retail world, the idea of a “perfect” store resonates a combination of attractive, in-store experiences coinciding with digital interaction.

The future stores, then product or service based will require a complete transformation. The focus will no longer be on the brick and mortar outlets but digital mobile first with a seamless behind the scenes operation.

It’s a fact, winning companies accelerated profitability during and after the recession, while losers stalled. Coming out of the last recession, the strongest companies went on offence early, while many of their peers focused on survival and waited for the cycle to clear.

Are you going to Accelerate or Decelerate ?

ANCHOVY. fully understands the importance of forward thinking
and customer-oriented strategies.
Help us help you!

If you follow the same understanding and want to digitally strategize your operations, improve your customer experience, track your customers and expand your reach to clients in the most natural way, contact us and hop on the metaphorical boat, let’s sail together straight into success.

 

To get in touch, kindly contact:

alessandro.morreale@anchovyinc.com

Author
Zak Borg
Co-Founder
Fact: Up at 4:45am

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