Does In-Store Retail needs Innovation?

Original article can be found here (source): Artificial Intelligence on Medium

Does In-Store Retail needs Innovation?

Does In-Store Retail needs Innovation?

Does In-Store retail are still in scope?

Can any disruptive innovations, better planning or altered strategy do any better?

Can you still run an In-store Retail profitably?

Lots of questions, right?

These are common questions that could spin around us in recent times.

The main contributor to these questions is Us. Oh, sorry this is not how we tell…. *Main contributor is “the rise of E-commerce”.

So, what makes this E-commerce distinctive?

1. Us being in the comfort of our home.

2. Us not spending enough time for our needs.

3. Us stopped shopping by instincts and started shopping by filters.

4. Us doesn’t want to stand in counters or trial rooms but wanted the delivery to be at our doors.

5. Us wanted to purchase products at a competitive price than ever before.

6. Us wanted to have the shop handy, when we look at and like a product.

So yes, it isn’t clear that our approach towards the In-store shopping changed.

Doesn’t that mean for the In-Store Retail to be still in scope, we should keep-on competing with these expectations and provide the In-Store experience as an add-on.

The innovations and strategies should be channelized in need and expectation based and just not to make the experience jazzy. if we know this then why this situation?

In-Store Retails will always experience a lag whenever there is a trend change as physical units cannot be as responsive to that of the Tech based markets.

They are not able to run against the technology and so they decided to run with it.

The Industry is nearly on-set with the new ideas and technologies, where they are getting prototyped, applied for places and there are some really cool tech-process strategies are devised to address your expectations and bring back You to the stores.

Let us now just watch the future answering our questions!

Thanks.