The term “One Stop Shop” refers to that company that offers, in a single location, a multitude of products or services in such a way that customers can satisfy all their needs in the same place. We can find “One Stop Shops” located in physical stores, but also in online stores.
We are currently very used to having this business model in many companies but, what benefits do they bring to clients and companies?
1. Convenience
As a client, convenience is an important one. You would save, not just time, but also money and effort by having a company that offers the solutions you need, tailored and personalized. It will not be necessary to waste time and effort looking for different suppliers that satisfy each need.
From the firm’s perspective, being able to understand what client’s needs are and how they behave when satisfying them will allow retailers to improve their offers and, therefore, create ad campaigns according to client’s needs.
In order to do that, the company will need to establish some technological analytic tools, such as wifi or location analytics or people counters. Thanks to these tools the company will be able to collect enough information about the demography of their clientes, what their needs and tastes are, how they behave when going shopping, and according to that information create the correct marketing and sales strategies.
2. Profits
As a company, choosing this type of store will bring you benefits related to profits. As you control information about customer needs and requests, you will be able to create product portfolios based on your customers’ wishes, ensuring your sales and improving the probability of increasing your profits.
3. Customer service
The customer service will be improved, and that’s a benefit for both the company and the clients. The company, as having a lot of information about its clients, would be able to organize its resources and provide a better customer experience. As a consequence, clientes would be satisfied and would choose the same store for its future shoppings.
