5 benefits of the physical store that drive foot traffic
As someone who's been in the retail industry for a while, I've seen how the retail landscape has changed. Despite what some might think, physical stores aren't going anywhere—they just need to evolve to stay relevant. In retail, sales are driven by the formula: customers per average ticket. Customers, in turn are influenced by visitors per conversion rate per frequency. By focusing on five key benefits—discovery, convenience, customization, community, and shoppertainment—you can boost the number of visitors to your store, thereby increasing sales.
Think of these benefits as tactics to enhance your retail strategy.
1. Discovery
There's something magical about wandering through a store and discovering something you weren't even looking for. Unlike online shopping, where algorithms try to guess your preferences, physical stores offer the joy of unexpected finds. Plus, there's nothing quite like the ability to touch and test a new product you've been eyeing up online. The tactile experience can make all the difference.
2. Convenience
Sure, online shopping is convenient, but physical stores can offer a seamless shopping experience too. Easy-to-navigate layouts, quick checkouts, and services like buy online, pick up in-store (BOPIS) can make a big difference. Plus, there's the added benefit of receiving personalized advice from knowledgeable salespeople. When customers need expert guidance, the human touch can make all the difference.
3. Customization
People love personalized experiences. Physical stores can offer a level of customization that's hard to match online. Offering in-store customization, like engraving or bespoke tailoring, can turn a simple purchase into a memorable experience
4. Community
Physical stores can be more than just places to shop—they can be community hubs. Hosting events, workshops, and activities can bring people together and build a loyal customer base.
5. Shoppertainment
Combining shopping with entertainment makes the retail experience fun and engaging. Transform your store into a destination where people come to enjoy themselves, not just to buy things.
Looking Ahead
The future of physical stores is all about adapting and innovating. By focusing on discovery, convenience, customization, community, and shoppertainment, you can give your customers plenty of reasons to visit your store.
What changes have you made in your store to keep customers coming back?