![\"\"](\"https:\/\/www.retailpro.com\/News\/blog\/wp-content\/uploads\/2017\/10\/BBP_9029_gradient-01.jpg\")
<\/p>\n<\/p>\n
<\/p>\n
<\/p>\n
Looks like store traffic is expected to be on the rise this holiday season.<\/p>\n
Recent studies from AlixPartners, Deloitte and KPMG are predicting in-store sales will rise approximately 4% this year.<\/p>\n
Despite some retail store closures this year, only 6% of those surveyed by AlixPartners said that would cause them to reconsider the purchase.<\/p>\n
Rather, 36% of consumers said they\u2019d simply shop competitors.<\/p>\n
Retailers can best position themselves to win this holiday by providing customers with integrated omnichannel strategies<\/a>.<\/p>\n However, not all multi-channel experiences are omnichannel.<\/p>\n Having online ordering, a brick-and-mortar storefront and a social media presence is simply having a multichannel strategy.<\/p>\n To have a true omnichannel experience, the retailer must provide the customer with a seamless experience and consistent messaging across each of channels.<\/p>\n In particular, millennials want to be able to start shopping at any touchpoint \u2014 online, mobile or in-store \u2014 and end the transaction at any other point in the sales process.<\/p>\n An example of omnichannel success<\/a> is U.K.-based Oasis<\/a>.<\/p>\n The retailer’s associates are equipped with tablets to provide immediate answers to customer questions on the sales floor.<\/p>\n The handhelds also act as cash registers, and out of stock items can be instantly ordered online for home delivery.<\/p>\n Many retailers have realized the devastating impact poor inventory management can have: Customers are often unwilling to go back to a store that is out of a desired product and that makes no effort to locate it.<\/p>\n As a result, retailers have invested in inventory visibility<\/a>.<\/p>\n Analytics along with inventory tracking software takes the pressure off retailers because it eliminates the guessing about how to allocate stock.<\/p>\n They can plan more accurately and locate products in other store locations quickly and accurately.<\/p>\n Retailers should take advantage of customers’ desire to holiday shop in person by increasing efforts to drive customers into their stores.<\/p>\n Standing apart from the competition is critical.<\/p>\n Some will respond by offering exclusive merchandise, others by providing engaging experiences.<\/p>\n Knowledgeable and helpful sales associates are always a plus.<\/p>\n And there’s also price.<\/p>\n For millennials, the fastest growing shopping segment, price has the greatest influence<\/a>.<\/p>\n Quality, brand, store and availability are important but in the end, price rules, likely because they have the ability instantly to price compare and save on almost anything they buy.<\/p>\n Retailers, therefore, need to offer competitive pricing as well as more value than consumers can obtain on Amazon, Google or other large retail outlets.<\/p>\n Omnichannel experiences are key to retaining customers and perhaps regaining sales previously lost to online.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Looks like store traffic is expected to be on the rise this holiday season. Recent studies from AlixPartners, Deloitte and KPMG are predicting in-store sales will rise approximately 4% this year. Despite some retail store closures this year, … Continue reading