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Experiential retail: attract, understand and engage
Undeniably, the retail space is changing. The high street is just not as appealing as it used to be. With the rise of showrooming and online shopping customers are generally only visiting the high street to collect an online order or do some impromptu browsing. The reduced prices and convenience of online shopping is just too enticing, retailers now have to think of creative ways to make customers want to spend more time, and money, in their stores.
This transformation didn’t just happen overnight, yet surprisingly some retailers are still not acknowledging the need for change. According to O2’s Digital Shopping Report, 46% of retailers believe they deliver digital multichannel experiences well, yet almost three quarters of customers disagree. And it’s not just about recognising the need for change; retailers also need to better understand their customers in order to engage with them in more memorable ways. It is the retailers who are proactive, not reactive that will thrive and I believe experiential retail is the answer.
So what is experiential retail all about?
It’s about implementing exciting digital solutions that will help you to deliver great in-store experiences to your customers. Making customers feel special through personalised interactive messaging. Engaging with them using digital signage. Assisting them with a real time guided selling application. Acknowledging when they’re in store using applications such as iBeacon and after their visit asking about their experience using SMS surveys that offer discount codes on completion.
The digital solutions in our Telefonica portfolio not only improve engagement, but also allow retailers to learn more about their customers through data analysis. On August 19th, Retail Week will be sharing our case studies on how we’ve helped Waitrose and Homebase innovate customer experience. If you want to know more in the meantime visit our website or give us a call on 01235 433 507.
To take part in the experiential retail debate follow our Twitter feed and use the hashtag #O2ForRetail.