Janine Mix is Retail Consultant + CEO at thecompleteboutique.com
What do you think the post-COVID retail landscape will look like?
From a brick-and-mortar standpoint in a post-COVID retail landscape, in-person shopping will continue to be an intricate part of the consumer experience. While safety measures and social distancing will temporarily impact a shopper’s behavior and confidence, they are ready to get out and shop their favorite retailers. Shopping is not only physiological, it’s highly therapeutic as well. Expect continual retail growth and sales as we navigate a “new normal”.
Shopping is not only physiological, it’s highly therapeutic as well
What will be the biggest challenges that the physical store have to deal with?
The two biggest challenges a physical store will have to deal with are supply chain disruptions and managing sales channels. According to the US Census Bureau even in the midst of the pandemic and unprecedented shutdowns, 86% retail sales still came from a physical location. While every retailer is feeling the pressure of needing to be online, the biggest struggle will be the ability to assess where the actual profit centers and growth opportunities are for their business and how to accurately navigate the multiple sales channels they have available to them. As for supply chain issues, they will see a decrease in vendor fulfillment which will leave them with gaps to fill in order to reach revenue projections.
As e-commerce and online competition grows, consumer loyalty will become even harder to achieve
How will customer loyalty be achieved?
As e-commerce and online competition grows, consumer loyalty will become even harder to achieve. When there are so many options and companies grasping for the customer’s attention it will become more difficult to fight for attention. You can only gain loyalty of a customer through trust. Trust in values, confidence in products, and a personalized experience will ensure you build a brand your customers want to continue doing business with for years to come.
What we are seeing now is a retail revolution. It’s less about an omni-channel presence and more about omni-experience
Are you optimistic about the future of retail?
Absolutely! Retail is always changing, it’s the very nature of the business. What we are seeing now is a retail revolution. It’s less about an omni-channel presence and more about omni-experience. Creating an omni-experience allows you to thread your business into your consumer’s life. With technology and social media advancements, you can quite literally expose your customer to your brand daily and in so many more engaging ways. Can you imagine a world where we never step outside to buy anything again? Where you travel to cities and towns around the world but have no where to shop, buy a souvenir, or snag a one-of-a-kind gift? Me neither!Here is my bio and credentials if you need them:
Janine Mix is a retail consultant and strategist with over 20 years of hands-on experience in virtually every role in the retail space, from cashier to nationwide corporate trainer. She has helped to open premier location stores in Beverly Hills and SOHO, and has worked with celebrity clients, government organizations, and industry leaders across the globe. Now, as the founder and CEO of The Complete Boutique, Janine is fulfilling her dream of helping retailers from around the world increase their business profits, personal freedom, and community impact.
Company URL: https://thecompleteboutique.com/