According to Frank Weil, chief customer officer at commerce solution focused firm KWI, it’s essential for retailers to connect online and offline channels. “While technology allows retailers to be faster and smarter, at the core, customers still want to be treated with a personalized touch and feel known as an individual shopper.
When you’ve reaped retail success in the U.S.—or have been approached by international customers for your product—it’s natural to set your sights abroad. After all, total global retail sales in 2020 are projected to amount to nearly $28 trillion. The outlook for international brick-and-mortar retail is sunny: In Great Britain, for example, the British Independent Retailers Association shows that more shops were opened than were closed in the first quarter of 2017. This was an increase of 414 shops in the first three months of 2017, compared to a net increase of just 4 shops for the same period the previous year.
A store's return policy is an important part of your overall approach to customer service, but it's not as simple as making your guidelines strict or lenient. Return policies are very specific to your brand and what you're looking to accomplish — there is no one-size-fits-all strategy.
Business insider just released their list of 25 companies that are revolutionizing retail. Yes, all of these brands introduce something new to the retail landscape, but when analyzing this list, we see a different story. Providing a full shopping experience and considering the consumer at every point of purchase - before, during, and after - matter more than ever.
I love shopping. Yes, it’s my business, but personally it’s my passion, too. For example, I recently felt the need to write a letter to the owner of a high-profile fashion brand. I walked into the store, expecting to come out with a few new things as I enjoy the clothes — the quality, the minimalist look. Instead, I walked out with conviction for what companies such as KWI are doing for the retail business.
Stories that “retail is dead” are just noise—the retail market is thriving for companies who are embracing the changing nature of how people shop and for companies who are equipping their brick and mortar stores with lessons learned from digital-first brands like everlane, m.gemi, and Stitch Fix.