Tech and Mortar
As we drive forward on the retail freeway we have many difficult choices ahead of us, the experts of the good old days have all fallen down amid the “can’t teach an old dog new tricks” scenario and the news and social feeds are full of scary words like retailpocalypse, retail cliffs and any other metaphor they can come up with to paint the picture of doom and gloom. Fact is B&M retail is not in flavor (that isn’t new news) however this doesn’t mean that B&M channels can’t make sensible moves for growth and profit. Having a good tech strategy within your business is essential, but this does not only apply to ecommerce (which is necessary) it also must feature (heavily) in your B&M portfolio. There are literally hundreds of really useful programs, devices, plug ins and API’s that can enhance all areas of the customer journey within the physical locations. They can also provide valuable information and new metrics about your customers habits and expectations. Holding physical locations is expensive so you owe it to your business to make smart choices to create some defensibility. Don’t make the mistake of asking what’s happening in the physical stores with no way to answer your own question.