How can retail compete against the online stores?
It’s no secret that retail has been hit hard, Homebase, Maplin, House of Fraser, the list goes on.
Why? Online gives people convenience and better prices.
So how can retailers use their stores to their advantage?
Give people an experience they simply can’t buy online.
Let me give you an example. Last week I went hiking in Snowdonia and needed a new pair of boots. After considering a few options online I came across Cotsworld Outdoors expert boot fitting service. This was an experience I can’t get online and getting blisters whilst climbing Snowdon is not fun!
I decided to go to my local store and have an EXPERT fit my boots. They are highly trained and have a process to achieve the perfect fit. I can’t buy this online.
Oh and whilst I was in-store I spent an extra £300 on hiking poles, a Tilly hat and socks. They increased my transaction size by getting me into a store and made more profit.
People will pay more for expertise and an experience, allowing retailers to compete.
Retailers need to create an in-store experience that is so irresistible it knocks any online “deal” of out the park.