Surviving the Tectonic Retail Shift: 5 Strategies to Drive Foot Traffic
This isn’t news to you: the retail landscape is shifting, so much so that it’s not far-fetched to describe it as a shift of tectonic proportions. Several long-standing, major retailers shocked the public as they announced store closings, including Sears, Kmart, J.C. Penney, Macy’s, American Eagle Outfitters, Abercrombie & Fitch, Ralph Lauren, Wet Seal, The Limited, and more.
And many of these names just a few years ago were the retailers of the aughts, making headlines again and again regarding their popularity with Millennials and other hip and happening consumers with money to burn.
But the Millennials have aged and their tastes have changed, leaving their once-beloved go-to brands behind. But far more importantly, technology has made it easy for consumers of all ages to purchase pretty much whatever they want, whenever they want, however they want, at the (frugal) price point they want with just a finger press on a smartphone’s button.
However, retail isn’t dead, it is evolving. In order to survive this time of transition, brick-and-mortar retailers must adapt.
Adapt And Thrive
Yet as much as the traditional retail landscape is changing, it doesn’t mean its vista will become one of vacant lots filled with weeds. Brick and mortar retail doesn’t need to die: you just have to sell your goods in a different way.
We’ve come up with five strategies that will help you get foot traffic inside your store and then convert those visitors into buyers – in your store, at your registers.
1. On-Site Services and Events
Getting shoppers into your store allows you more opportunities to engage with them on a personal level, which will lead to more sales and revenue. Shoppers today want an extremely personal as well as “connected” shopping experience. Some personalized shopping experiences you could try include:
- Offer services such as tailoring, personal shoppers, complimentary services (free shipping for orders made in the store, for example), free wi-fi, and so on.
- Hold classes or workshops to teach skills relevant to your products.
- Provide free beverages and snacks, interactive stations, product experts on site who can demonstrate how your wares work. (For reference, think of cosmetic stores with makeup stylists to show customers how to apply the products.)
2. Geo Location
With 77 percent of Americans using smartphones and 50 percent owning a tablet, you now have an exceptional opportunity to target your customers via geo location, which allows you to send customers coupons, offers and promotions immediately, even – and especially – while in your store.
Imagine the possibilities: Swirl found that 73 percent of shoppers surveyed said that receiving such a message on their smartphone while in a store would increase the chance of their purchasing while at the retailer. Sixty-one percent said the message would encourage them to visit the store more frequently.
So as your visitors walk through your store, a geo location beacon will track them and push promotions. Amazon developed a geo location triangulation technology that knows where customers are inside a store and then pushes special promotions instantly to their phone.
Download the full eBook to get the full list of strategies to drive foot traffic.
- Using events and onsite services
- With geo location marketing
- From social media
- By implementing buy online pick up in store
- Offering in store promotions and perks