In this new interview we speak with Stefano Giorgi, Property Manager at Oriocenter. Stefano is convinced that physical stores are not going to disappear and bases his response on the fact that consumers ask for contact with the products and with the brand, what become the virtue of physical stores against online commerce.
This professional tells us about his vision for the future of the sector, and what it needs to stay successful, and consists on a mix of retail, service and amusement.
Do you want to know more about Stefano opinions on current situation in the sector? Continue reading this interview.
Shopping Center Interview – The main virtue of physical stores
We start by assessing the current context of the retail sector. Will offline retail disappear?
No, offline retail will not disappear because, as we understood well after Covid, people like moving, meet other people, visit places, attend events and also have retail offline and enjoy all what happens around it.
What are its defects and virtues in front of online retail?
Let’s start with virtues of offline retail, which are mainly related with the possibility of physical contact with goods and people. Customers can interact with all the products that are offered and choose among a wide variety of options. Physical retail also allows clientes to experience a personalized shopping experience and create a close relationship with the brand through the staff on the stores.
Some defects about offline stores are obviously related to the limited choice compared to online shopping, and this model also needs more investment and means more costs for the business.
In the current context, what role does technology play in retail? Highlight a current technology or innovation that you believe is setting a trend.
I would like to highlight the “Click and collect” model, it could be the future of our shopping centers and retail stores. This business model would allow clients tu buy their products online and collect them in a physical shop. This mix would give to the stores all the advantages of both channels.
What does it take for a store to work? Is there a magic recipe?
One key point that a store need to work is basically its staff. As mentioned above, physical stores have its competitive advantage in offering clients with a personalized experience, and this means to training staff to be kind with them.
Another important factor is the location of your place. Before choosing the locations of your store you must analyze its environment, which other stores are near yours, if it is a street busy with passers-by, and so on.
The quality of your products is also one aspect that will make a difference in whether customers would choose your products over those of your competitors.
How is customer loyalty achieved?
We are at a time when it is increasingly difficult to retain customers due to the large amount of information they have and the variety of alternatives when buying a product.
A good action that can help to retain customers is the use of fidelity cards. With them you can offer your customers exclusive offers that encourage them to return to your store for their next purchase.
How do you see the future of retail?
I see the future as a higher combo of retail, services and amusement to attract people to your place and offer them with a full experience not only with a simple sale.
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