How digital solutions can help brick-and-mortar retailers compete against online stores.
Retail faces many challenges, including the threat of platforms and other business models, as well as the problem of limited shelf space or lack of assortment depth. One potential solution is to provide customers with a seamless on- and offline experience through technology such as virtual shelf extension and data collection.
The solution / the procedure
Liquam supports retailers in recognizing problems and identifying causes by means of a potential analysis. On this basis, the retailer can make an informed decision about whether and in what way to make adjustments. Thus, he can either operate independently or team up with an experienced business partner like Liquam to get professional support in implementing his plans.
receive If the decision is made in favor of Liquam, individual concepts can be developed together in order to achieve an optimal adaptation to the needs of the end customers and thus an increase in sales.
One possible solution in this case is to dovetail online and offline sales channels by means of a virtual shelf extension (Endless Aisle), which enables customers to obtain all products in-store without needing another source.
One option for implementing a virtual shelf extension is to make tablets available to customers and employees or to refer them to a corresponding app. With the help of this measure, relevant data can be collected and the assortment can be optimized on site.
However, it is difficult to win back customers who have already learned that certain products are not available in brick-and-mortar stores and shop directly online. It is therefore of great importance that the retailer engages in targeted online advertising, for example through Google Ads, in order to draw customers’ attention to the offer and retain them in the long term.
Expanding the offering can ensure that customers remain loyal to the retailer, thus avoiding a potential loss of sales.