Successful Retail Strategy: Becoming authentic
Creating convenience for shoppers is essential for 2022, as shoppers are attracted to the ease that services like click-to-collect, click-to-car, or delivery offer consumers. By investing in omnichannel services, as previously mentioned, you are building a reputation of being reliable and trustworthy by taking away the common delivery issues, like missed parcels and delays.
Being Authentic and sustainable creates value
Be authentic to the surrounding community and neighborhood by customizing store environments to support local NGOs, fitted store setups, and carrying items that match local demands. Let’s say that your store has a location near a college or university, cheaper products for decorating dorms would be ideal for decorating larger sections of the store. To show support of matters that might matter more to a particular part of the consumers, you can partner with local businesses or non-profit organizations to further develop the notion of caring about issues that affect the community you are a part of.
By carrying products that support a particular cause, you can create a sense of authenticity and sincerity among consumers.
Retailers are becoming more committed to becoming a net-zero organization, which means net-zero emissions and zero waste in landfills. By examining every aspect of product creation, from the use of sustainable materials to creating durable and fixable or recyclable items, you can create a circular model. Retailers are moving forward with creating more sustainability commitments while still retaining value-orientated market positions, making positive progress without placing the added cost on to consumers.
According to a global 2020 study by IBM, 57% of consumers are willing to change their purchasing habits to help reduce the negative impact on the climate. However, consumers prefer to buy sustainably made products, cost remains crucial, with 41% of respondents citing value as their number one driver behind spending. Retailers should in the future keep these in mind, as consumers expect the retailers to lead the way and only offer sustainable options in stores.
Being transparent with your sustainability goals and creating a checklist form makes it easier understood by consumers.
Key Action Points to become more authentic
Below we have gathered four action points on how to become a more authentic retailer:
- Create convenience for shoppers. By developing a point system from which the consumer can either get offers, save on delivery, or use as payment in-store, you can create a large community of consumers.
- Build authenticity. Being mindful of the communities in which your business is a part, you can create authenticity. Whether it comes to showing in the products you choose to have in store, visual merchandise setups, or supporting local non-profits helps create a local store feel for a national chain.
- Commit to sustainability. By publishing a long-term commitment to sustainability, you help consumers feel good about shopping at your store. Be transparent when communicating your goals for your sustainable strategy by adding checkpoints along the journey.
- Create in-store environments for viral trends. Focus on value and availability by creating in-store environments where viral products are presented as exclusive to consumers. These setups should be easily changeable as trends move fast in the retail business.