The Need of Hybrid Shopping Experience
Businesses today demand continuous shift in their offering style with the current advancement in technology to ensure happy and satisfied customers. One of many businesses where technology seems to have instilled profound effect is retail. The ever-changing customer demands requires adaptation by the retail business to satisfy their shopping experiences. Today, corporate giant retail business has entered this market by providing a more vibrant shopping experience for its consumers and presenting an absolute competition to the traditional brick and mortar shops. Because of this, retail businesses too seem to have the need to adapt technology in their offering of the business. New trends in shopping experience requires coherence by business such that they can provide both off and online and a more pleasant shopping experience for its clients. Therefore, we can see how modern businesses seem to have added this component of digital technologies along with the traditional physical store experience in their business.
Presently, customer engage in shopping both physically as well as online different from the times of past where only physical shopping existed. The progress in digital technology has made it more realistic and convenient for consumers to even buy their items online. Big retail giants have created a huge buzz in the online segment by seeming to know exact consumer behaviour and thus have been able to channel the product marketing in such a manner. The amount of digital data they can process and ability to use that process data to give customers with an individualised recommendation system during their shopping experience seems to have pulled more and more costumer entries into the online platform. We can see this influence everywhere as new online shops open everyday and influencing the costumer buying style. Physical retail business style thus must carefully examine this if they are to ensure that their market share holds over the long time. They must adapt to this by providing a hybrid shopping experience where they can provide an online form of business complemented by the improved physical stores, better service, improved mechanism in flow of product and price information.
With the advancement in technology and even more in years to come, competing with the giants in retail businesses needs smart thought from the small-scale retail business. A hybrid shopping experience can be elementary and can provide small-scale retail business with great value and stand them apart from others. They must be able to transform the experience of its clients from online to offline and vice versa so that customers are able to enjoy both forms of shopping experience. To do this, businesses must use technology and be able to channel the shopping experience in a more efficient, seamless, and enjoyable manner. From our experience of past year with this looming COVID-19 disaster, online retail businesses have found even greater impetus and thus influence in the consumer group. This is here to stay. Of that there is not a doubt! Physical small scale retail business must accept this looming threat and build strategies around shopping experiences that can help them retain their clients. They need to expand their trade channels because of this major disruption brought out by the technology. The societal impact of this COVID-19 is sure to find permanence in the consumer buying habit like the growth we have seen over the past year. One of the leading management consulting firm in the world, McKinsey has highlighted the need for businesses to focus more on data and its processing aspect and use the means of technology to transform the experience of customers in the way