“Customers require an easy shopping experience, a focused product assortment, and an experience which connects them to the brand, retailer, or other people.” – Cowen Research, Re-Think Retail: The Store Must Do More
How are you breaking into the new world of retail?
Obviously, times have changed. Consumers have changed. How we do business has changed.
Technology has really changed.
With all this change going on in our world, it’s inevitable retailers must change too. But how can retailers ensure they’re adapting to survive? To succeed? To thrive?
In a recent retail manifesto, Cowen and Company gives their two cents on how retailers are “rethinking retail” as profound shifts in customer expectations continue to force traditional retail business models to innovate and change.
From Cowen’s perspective, it’s all about the store.
Just like the title of the report illustrates, the store must do more to “maximize a customer’s experience” and “minimize tasks” as their purpose has fundamentally shifted. In today’s new world of retail, stores must act as customer acquisition points where convenience, curation, and culture trump all other factors.Read More