Technology and e-commerce have contributed to a monumental shake-up in shopping behavior. Shopping is no longer a deliberate, compartmentalized, discrete act. Today it’s something much different. It’s spontaneous, deconstructed, and integrated into the flow of everyday life. We are seeing more and more retailers with new store formats, new models and new ways of engaging consumers and shoppers. They are showing up in unexpected yet meaningful ways, creating engaging retail moments along the consumer lifestyle journey and are enabling shopping and the buy to happen anywhere.
Pop-up retail is a perfect example of meeting consumers everywhere they go (shopping-related or not). The craving for convenience quickly created a $50 Billion industry that stretches way beyond what we’ve traditional seen. From home decor Frontgate to retail behemoth Amazon, brands are actively experimenting with pop-ups. We now see mobile pop-ups that relocate to follow consumer traffic and pop-up store hubs that allow brands to rent temporary space creating an “always new” shopping experience. Some use pop-up formats as testing labs to learn about new product or technology potential. In return, brands get a unique opportunity to connect and interact with precisely a targeted audience before competitors do. Couple that with incredible distribution velocity and you get a bullet-proof recipe of success.
The battle for consumer attention reaches an entirely new level as brands bring retail everywhere consumers go, even into their homes.
Meeting shoppers wherever they are is not limited to out-of-home solutions. Today, brands are bringing physical commerce to the most sacred place of all: our homes. Warby Parker’s try-on program means that you don’t have to stop by one of their stores to pick a frame: with up to five styles sent right to your home you can now choose your perfect fit without even stepping outside. And StitchFix business model is grounded in making your home a store branch: shopping pre-selected items and transacting is frictionless. We’ve already witnessed eCommence reaching extreme flexibility: online transactions are happening everywhere, as consumers do grocery shopping on a train, make restaurant reservations from their cars, and manage Amazon subscriptions while brushing their teeth. What we’ll see next is physical shopping becoming a true on-the-go deal, redefining what we used to call brick and mortar retail.
Written By: Elena Petukhova | TPN VP Planning
- WHICH P IS BEST FOR YOU? Identify the Right Business Model and Fulfillment Strategy for Amazon [Velocity Amazon Strategy Series]
- CES 2019: A Clearer Picture of Our Future
- MAKING WHOLE FOODS AND AMAZON TRULY WHOLE? FOLLOW THE DATA
- I resolve to sell my product on Amazon in 2019 – WHERE TO BEGIN [Velocity Amazon Strategy Series]
- Amazon’s Customer-centric Evolution—What Amazon’s predictive AI means to Manufacturers and Brands