The ever-present question in the minds of consumers – who is going to win the battle between online retailers and bricks-and-mortar stores? Will the bricks-and-mortar stores close down or will the online retailers go bust trying to meet insatiable customer expectations?
These are the questions that people have been asking since digital retailers first entered the market – but have you ever wondered if both could co-exist?
Retailers are beginning to realize that what’s important is providing a first-class experience to customers, wherever they happen to shop, online or in brick and mortar stores. Retailers now know that the best customer experiences combine the tangible, intimate experience of visiting a store with the kind of data-driven personalized experience that can only be provided by digital sales channels.
This kind of synergy is essential for all retailers, even the biggest ones on the planet. Amazon has seemed like the arch-enemy of bricks-and-mortar stores for the last 20 years, but Amazon recently announced plans to open bricks-and-mortar stores of their own, right before their acquisition of Whole Foods.
On a physical level, retailers such as Ikea offer an excellent model for the development of a customer experience. Entering an Ikea store is like stepping into a dream world, where customers walk through a labyrinth and face myriad visions of their potential future home. The Ikea experience excites and engages customers building loyalty far beyond the initial purchase.
Some retailers have moved to the other extreme and are not focused on selling goods in their stores. Nordstrom, for example, is launching Nordstrom Local stores which don’t sell clothes. Instead, they offer a spa, a café, a bar and consultations with stylists and tailors. The goal is to create a Nordstrom Experience so that customers feel the brand is part of their lifestyle.
And that’s where ThirdEye Data comes in.
Combining the Digital and Physical Experiences Using Technology.
“Connected Retail” by ThirdEye Data is one of the first solutions to get to market that offers this kind of integrated experience. Using predictive and batch analytics based on customer profile data, sales data, inventory data, historical data, retailers can create a personalized experience for every shopper, no matter where they chose to shop.