Ricardo Rodríguez, founder at Brands & SaaS, is very optimistic about the future of retail and believes that “those who never stop helping their customers and who understand faster and adapt better will win this scenario”.
What do you think the post-COVID retail landscape will look like?
In general terms, I think we will adapt to the new conditions and we will find a new normality. We are one of the most adaptable species on earth, and this is extremely relevant to understand the new ways of consumption. The retail store is no longer just a store, it has to be in the digital area in order to have an omnipresent activity.
I think we will adapt to the new conditions and we will find a new normality
What will be the biggest problem or weakness that the physical store has to deal with?
This problem started a while ago, the customer journey has to be designed in a bigger spectrum of touchpoints and not just when the customer arrives at the store. From digital to physical and from physical to digital at the same time, for example: Let’s say ”Andrea” is part of your possible customer, she works in an office near a mall, she wakes up at 7:30 am, and the first thing that she does at morning is to check her phone (first touchpoint = ads on facebook), then she drives her car to her office (second touchpoint = street ads), she arrives to her office and at launch she decided to have lunch at the mall, so as soon as she enters to the mall she receive a notification on her phone about free wifi in exchange for login via her facebook or email (third touchpoint = make a custom audience for people who login and send ads and emails), then she is near your store and from proximity she receive another notification from a beacon technology about 50% OFF for the next 2 hours, she enters the store and someone give her a flyer with the latest promos and Covid protocols. If she buys something it is important to add her in a special list to thank her, give her extra gifts, ask her for surveys and if the product finally achieve her expectations; and if she didn’t buy the follow up sequence can be triggered via email, ads, phone to offer her special promos and etc. Before this process was in the ”optimization” process but Covid obligates you to implement this kind of process as a necessity from the new normality.
The customer journey has to be designed in a bigger spectrum of touchpoints and not just when the customer arrives at the store
What role will technology play?
Technology is one of the most relevant variables of the formula, but is not the formula per se and that’s the mistake we can be confused on. We think we can replace personal touch, personal relationship with some app or automation when in reality we still need human interaction and a retail store even more as a difference with just an online store. If people decide to buy in a physical store it is because he or she wants to live that experience of walking, searching, looking, going out etc. Now, technology will help us to simplify the follow up, the communication, the recognition of each prospect and customers and from that we can implement specific actions to convert more.
We still need human interaction and a retail store even more as a difference with just an online store
How will customer loyalty be achieved?
The one who never stops helping their customers wins. Is not enough anymore to just make the sale, it is important to add a post sale service, and be sure your customer actually achieves their goals with your product or service. Overdelivering is the new normality is not something ”extra” anymore.
The one who never stops helping their customers wins
Are you optimistic about the future of retail?
It Is going to be very interesting, how the old generations that are still in the main boards as directors can feel somewhat overwhelmed and confused regarding the new technologies, the ones who understand faster and adapt better will win this scenario. The consumer will have much more power than before, from information to self attention inside the store led by digital screens or robots to help with their questions.
The ones who understand faster and adapt better will win this scenario
What do you think about our Flame analytics tool?
It is relevant to work with serious technologies and companies that help you in this digital transition with tools and strategies and the analytics part is as relevant as the product. In this sense Flame analytics tool gives you the information you need in order to make a good business decision, without this kind of technology it would be almost impossible to track and know all of these data points in real time in the retail scenario.
Flame analytics tool gives you the information you need in order to make a good business decision