As we all know first-hand, digitization has pushed retailers to evolve to stay relevant in an increasingly digital market. How often do you check online to see if the product you are looking for is in stock rather than directly going to the store? Or how often do you purchase items in multiple sizes online, just to send back the ones that don’t fit? We have all grown accustomed to these changes, but they pose challenges for retailers nonetheless.
The recent pandemic has only accelerated this trend more. Global ecommerce equated to over $9 trillion in sales throughout Covid-19. Marketplaces such as Amazon and bol.com, with countless SKUs, now determine how we navigate the majority of our purchases. Flash delivery drivers disrupt supermarkets. Second-hand platforms such as Vinted and Marktplaats stimulate the circular economy and allow products to produce turnover multiple times. Competition no longer comes from a block away but from worldwide. The web has become one big price comparison.
Focusing on a clear concept
Within this complex web of demands, retailers need to re-specialize. Where ecommerce allows for ease, accessibility, and control, physical retail offers an opportunity to focus on the experience, the ability to touch a product and provide customers instant gratification. Finding the formula that works best for your business is essential in converting potential buyers. You can focus on price, like Action, quality, like the German Manufactum who only sells one product per category, or sustainability and emotional bonds, like Dille & Kamille. These brands have in common that their retail strategy is focused and clear.
Choosing the right solution
We’ve worked on retail projects with vastly different needs and goals. Our specialists have a solid understanding of the means and possibilities of creating assets that will grow your business. From building an environment tailored for team purchases together with Nike Team Sports, creating personalized experiences by integrating first-party data for Pet’s Place, and building unique retail brands like de Bijenkorf and Dille & Kamille using more traditional advertising like TVCs and social.
Upgrading the experience
Having a clear focus on the concept truly makes the difference in retail. Both online and offline. At The Valley, we deal with retail challenges, shopping experiences, and product ranges daily. We have quite a track record of working with retailers ranging from lifestyle to sports and fashion. We make sure that the concept and UX design of the experience supports the strategy that we’ve defined together. This way, we ensure customers are happy with purchases, both short and long term.