Michael Maher: “The future of retail is really more about an experience”
Michael Maher is Chief officer at Cartology. They create holistic strategies for Brand Growth on Amazon, so they help brands sell more products on Amazon. He is optimistic about the future of retail and says that “the advancements to come are limitless, only our imaginations and work ethic will limit the future possibilities”.
What do you think the post-COVID retail landscape will look like?
With huge growth in ecommerce over the past year, I don’t see people giving up the increased adoption as store’s open back up. I believe the future of retail is really more about an experience. What I mean by that is brick & mortar locations will provide customers with an experience, trying out products, and then the ecommerce logistics that have been established by companies like Amazon will kick in and get the item to the customers within 2 days or less. Ecommerce will continue to grow in popularity as consumers notice its benefits.
What will be the biggest problem or weakness that the physical store have to deal with?
Getting consumers to feel safe again is going to take time. And now that consumers already see what ecommerce can do, they’re going to have to use sales tactics or promotions to drive people into the stores. Price will always get people to react.
Getting consumers to feel safe again is going to take time
What role will technology play?
Lean in on the current technology out there, especially in the logistics department, to enhance the experience. Since consumers no longer have to go into the store, the only reason someone is going to walk into the store is for the experience, i.e. trying something on, testing it out, etc. Don’t wait to make the change. Invest now so you don’t fall short of consumer expectations. If the covid-19 pandemic taught us anything, it’s that you shouldn’t wait for circumstances to force innovation. Do it now!
How will customer loyalty be achieved?
Consumers want ease and convenience. And if it’s not that, they want something that matches their lifestyle. If you aren’t complying with either of those, it’s going to be difficult to keep customers around.
If the covid-19 pandemic taught us anything, it’s that you shouldn’t wait for circumstances to force innovation. Do it now!
Are you optimistic about the future of retail?
Absolutely. Ecommerce is going to continue to increase its adoption rate and the advancements to come are limitless. Only our imaginations and work ethic will limit the future possibilities. People are pretty resilient. Think people in 1918, in the midst of the flu pandemic, were thinking about creating color television, the polio vaccine, any of the tech we’ve come up with in the past 20 years? We can do it if we apply ourselves, regardless of how painful the work may be.