(8-min read)
5 Surprising Retail Fun Facts to Help Your Business in 2024
Retail Fun Facts (Editor’s Picks)
Recent studies reveal that nearly three quarters of British shoppers favour the omnichannel approach, seamlessly blending online and in-store experiences. Moreover, two thirds utilise their smartphones whilst browsing in-store. Think about your retail marketing strategy. Are you truly harnessing the potential of this dynamic shopping landscape?
With more ways to shop than ever before, there's no better time to think about how to enhance your shoppers' journey, ensuring they connect deeply with your products and brand ethos.
Top 3 retail solutions suit the trends
Digital Displays: Effective engagement solutions but high cost.
Digital signage holds significant sway over purchasing decisions, with 68% of customers indicating a greater inclination to buy advertised products. For retailers navigating this evolving landscape, embracing technology emerges as a crucial strategy to elevate the customer experience. A recent study by McKinsey, highlighting a potential 23% increase in EBIT margins for retailers investing in technology.
Technology offers the opportunity to attract more foot traffic by captivating shoppers' attention and sharing your brand's story without the constraints of physical space. However, there is a little downside. The initial investment in hardware and software can be substantial, potentially presenting a hurdle for small businesses. Additionally, managing technical issues, especially across a global network of over 1000 stores, can present ongoing difficulties.
Retail POP Displays: Eye catching, yet no impulsive
It's evident that traditional marketing methods have been effective. However, this success also means they've become common tools for marketers, akin to life hacks. If you haven't explored new solutions for retail strategy to promote your products, you might find yourself lost in a sea of sameness.
Moreover, creating engaging content presents a significant challenge. A slogan can only work effectively if your customers already know your product. But what if you're introducing a new product feature to the market and a 900 x 400 cm banner isn't sufficient to highlight all its product information? Although a QR code can lead customers to your website for additional information, the truth is that the average time on page often shows single-digit. This is because in-store shoppers typically have limited time and attention spans to dedicate to browsing websites. Even if you consider your campaign successful, failing to engage effectively means losing a portion of the market.
🔥 MyStories: Innovative, low cost, easy to use.
Interesting statistics reveal that shoppers enjoy using their mobile phones and watching videos online. However, does this imply that they are depending more on their searching abilities rather than being informed by the content you offer, given its limited nature?
The rising reliance on smartphones before in-store shopping highlights the critical need for strategic and informative product content. Prioritising the mobile experience is crucial for omnichannel retail leaders, as it can determine whether customers enter the store ready to buy or leave dissatisfied. Offering engaging, easily “scrollable” content in various formats can enhance the shopping experience for smartphone users. With in-store customers primarily browsing on their phones and having shorter attention spans, MyStories provides a tailored solution to match their behaviour.
How MyStories Works?
MyStories is tailor-made for brick-and-mortar stores, blending the excitement of social media with the security of in-store browsing. Trusted by industry leaders and trendsetting retailers worldwide, MyStories guarantees an unforgettable QR experience for your store or POSM. A seamless product discovery and purchasing experiences for shoppers with just a few taps.
Benefits of MyStories
1. Powerful creator tool
MyStories is specifically optimised for rapid loading and immediate playback of your Story upon access. The linear progression of engaging videos, images, concise text, and clear calls-to-action (CTAs) has been proven to captivate in-store audiences more effectively.
2. Effortless Content Management
Our rapid authoring tool allows you to update content on-the-go for promotions, influencer marketing, or new features.
3. Instantly familiar
With over 500 million daily users browsing through Stories, MyStories offers an interface that is instantly recognisable, providing an omnichannel experience for your audience to seamlessly transition from online to offline.
4. No legal issues considerations
Avoid potential legal issues associated with showrooming, where customers are redirected from retailer partners without consent. MyStories ensures customers stay within the retailer's channel while enjoying immersive shopping experiences.
5. Cost-effective in-store marketing strategies
Unlike digital signage, MyStories incurs only one-time printing and logistics costs. Thereafter, you're free from budgeting for reprinting marketing materials or bearing technical maintenance expenses.
Take the hassle out of crafting your retail content plan with our simple steps. Click here for a free 30-minute demo. 😇