We talk about retail to Marialuisa Garito, founder of Affordable Chic, a B2C Brand based in NYC that offers high-quality clothing and chic styles to professional and stay-at-home moms between 30 and 65 years old. “My hope is it won’t become the new normal, and when the time will come we’ll appreciate what we have been missing so far: the human connection, which is the only thing technology still did not figure out”.
What do you think the post-COVID retail landscape will look like?
Online retail compared to the physical definitely had fewer difficulties for obvious reasons. Covid changed the way to buy and the way to think about how to spend. The next 2 years will be probably more challenging for the stores, and they will need to think about safety and more accessible products in order to navigate this time of health and financial crisis.
Covid changed the way to buy and the way to think about how to spend
What will be the biggest problem or weakness that the physical store has to deal with?
The margin. Of course, they will need to meet the fixed expenses but also need to low their margins if they want to restart to attract more clients and especially the ones who, while being at home, found a way to save money.
Until the end of the pandemic technology will still be the bridge between people and businesses
What role will technology play?
Covid accelerates the escalation of the tech world which played an essential role during the pandemic all around the world. Kept people together and was a window to the outside world when isolation was mandatory. Until the end of the pandemic, which will probably last another 2 or 3 years, technology will still be the bridge between people and businesses. Also, it will seem more accessible and convenient for many. My hope is it won’t become the new normal, and when the time will come we’ll appreciate what we have been missing so far: the human connection, which is the only thing technology still did not figure out. Social media is missing the sense of relation which is fundamental in any business and human relationship.
People are tending to care less for exclusivity but more for accessibility that can satisfy their needs
How will customer loyalty be achieved?
By understanding that their needs changed, and their thinking on how addressing their money shifted from unimportant to essential. People, and especially women, are tending to care less for exclusivity but more for accessibility that can satisfy their needs.
Flame has a lot of great tools to optimize brick and mortar stores into the digital world
Are you optimistic about the future of retail?
I am, if the retail world will adapt to the new culture.
What do you think about our Flame analytics tool?
Flame has a lot of great tools to optimize brick and mortar stores into the digital world. There has to be a blend between these worlds for a successful and safe shopping experience.
