Bricks, Mortar & Pixels:

How leveraging new technology keeps physical stores ahead of the retail game

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Bricks, Mortar & Pixels: How New Technology Solutions Keep Stores Competitive

According to recent research conducted by Salesforce1, the bricks-and-mortar store is far from passé: 46% of shoppers still prefer to buy in a physical store, vs. 35% for laptops, and 18% for mobile phones. However, the report’s findings also reveal that nearly three out of four (71%) of shoppers now access their phone while in stores1 to read product reviews, compare prices, navigate aisles, check out, pay or look for gift inspiration ahead of the holidays. This figure jumps to 83% for shoppers aged 18-44. These numbers are up 15% from 2017, and increasingly, retailers are answering consumers’ rapidly changing expectations via the mini computers in nearly everyone’s pocket.1

Customers, whether they’re using their mobile in-store or not, still like experiencing products in person, so they can see, touch, try on or verify appearance in real time before making a purchase. In fact, being able to feel and try products is the main reason consumers prefer shopping in-store – 56% cited this in a recent survey2 .

Products looking different to what they expected (41%), long delivery times (34%) and high shipping costs (25%) are other notable reasons customers favour in-store as opposed to online shopping.

Despite these encouraging figures, however, always-on connectivity does mean consumers’ time is limited – and so are their attention spans. But the customer can be enticed with exciting and involving experiences in retail destinations.

Immersive, interactive shopping experiences can reduce distractions and better engage customers to trigger consumer action. Bricks-and-mortar stores need to leverage technology to grow their business and deliver the convenient, personalised, information-rich experience digital-first consumers crave.

Most shoppers now access their phone while in stores to read product reviews or compare prices1

83%71%ages 18-441 overall1

“The bricks and mortar store is far from passé: 46% of shoppers still prefer to buy in a physical store.”1

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The latest in-store technology is vital to creating the rich experiences today’s consumers are seeking. And by using the latest technology to assist them, retailers can focus on creating better in-store experiences.

While online retailers enable customers to shop from anywhere and at any time, bricks-and-mortar shops can rival their online competition by incorporating various types of mobile and interactive technologies at critical touchpoints throughout the store.

Flexible solutions, such as digital displays, interactive touchscreens, self-service kiosks and the latest mobile point-of-sale (POS) technology enable sales associates to better assist customers and allow transactions to take place beyond the traditional checkout line. And when customers are looking for fast, frictionless purchasing, being able to avoid the queue and buy from wherever you’re standing is a huge draw.

Today’s clever POS systems are increasingly designed to be multi-purpose tools, mobile, durable and aesthetically pleasing. And using these new systems really pays off. Recent research found that stores using up-to-date POS systems achieve 5.6% higher average sales growth than those that don’t.3

Bricks, Mortar & Pixels: How New Technology Solutions Keep Stores Competitive

From point of sale to interactive signage, new technology is revolutionizing customer experience

5.6%higher average sales growth experienced by stores using up-to-date POS systems versus those that don’t.3

“New technology enables sales associates to better assist customers and allow transactions to take place beyond the traditional checkout line.”

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Bricks, Mortar & Pixels: How New Technology Solutions Keep Stores Competitive

80%of customers say the experience a company provides is as important as its products and services4

67%say their standard for good experiences are higher than ever4

Beyond POS, there’s also the evolution of digital signage, which offers a host of exciting opportunities to boost your in-store offering. As an example, within a grocery store, a digital display can act as a wine concierge, providing information about the origins of a selected wine, and even suggest food pairings. An in-aisle display can be used to inform and promote a new grocery item as well as provide how-to information and recipe suggestions. A wayfinder device deployed throughout a large retail environment can help customers quickly navigate from one area to another, or direct them specifically to an exact item.

Self-service technology is also helping forward-thinking businesses enhance their customer experience, enabling them to serve customers the way they want to be served. Take quick-service restaurants—many have started to implement technology beyond traditional order-taking and payment, providing customers with the ability to use interactive devices for self-service activities such as menu browsing, ordering and loyalty programs.

“A wayfinder device deployed throughout a retail environment can help customers navigate from one area to another, or direct them specifically to an exact item.”

Put simply, where technology used to be an afterthought, devices should now be playing a starring role. It’s vital that today’s bricks-and-mortar stores create an in-store experience that both delights and engages their consumers while offering more convenience than the traditional shopping trip. And with the right technology in place, this is exactly what savvy retailers can achieve.

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Bricks, Mortar & Pixels: How New Technology Solutions Keep Stores Competitive

HP retail solutions enhance your in-store experience, create a consistent customer journey and grow brand loyalty. From quick and easy signage printing to cutting-edge POS technology and immersive multi-touch displays, HP can help you keep pace with today’s customer expectations.

Advanced retail technology can take your store into the future

Sources:

1. Salesforce.com blog, Shopper-first Retailing, 2018: https://www.salesforce.com/blog/2018/08/digital-shopper-first-retail-report-research

2. Bizain.com, Top 10 Brick-And-Mortar Retail Statistics That You Must Know: https://www.bizain.com/brick-and-mortar-retail-statistics/

3. IHL Group, “Why Updated POS is Critical to Unified Commerce Success” webinar: https://www.ihlservices.com/news/analyst-corner/2017/11/why-updated-pos-is-critical-webinar-replay/

4. Salesforce.com blog, New Research Uncovers Big Shifts in Customer Expectations and Trust, 2018: https://www.salesforce.com/blog/2018/06/digital-customers-research.html

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c06352209, June 2019