Gail Chiasson, North American Editor
“The stores of tomorrow are going to be totally different than what we see today,” says Lee Peterson, executive vice-president brand, strategy and design, at WD Partners in Columbus, Ohio.
Peterson will be giving a keynote speech on ‘The next Killer App: Stores’ at Retail Evolution Summit Feb. 18-19, 2015, in San Francisco. With more than 34 years of collective experience as a retailer, a strategist and as a leader in branding and design, Peterson is at the forefront of what is happening – and going to happen – at the retail level.
First of all, stores are going to become fulfillment centres, catering to the BOPIS shopper, who will Buy Online, Pickup In Store, he says.
“It’s super-convenient, takes almost no time, consumers have their wants fulfilled immediately, and in many states it means no tax,” he says, pointing out spectacular growth in this practice happening right now.
He says footfall in stores was down 20% in November, 2013, compared to a year earlier as people find new ways of shopping, although holiday retail shopping was up 4%.
Second, the stores will become social playgrounds.
“Young people like to be with their friends, so stores will have to be ‘cool’ places to go, providing a mix of products to entertain these shoppers,” Peterson says. “There will less stores but smarter people selling.”
Asked whether consumers might want to touch and feel products before they buy, Peterson says that requirement is way down the list at number five in importance for young people. However, they still have a love for brands, and that’s where companies like Scala (presenting sponsor of the Retail Evolution Summit) can help with digital signage.
“It must be entertaining and able to engage these young people in store.”
Asked about wearables, Peterson says, to date, he can’t see too much for them yet beyond things like tracking your own blood pressure, steps taken on a run and other health- and exercise-related information, “and how much do you really want to know about yourself?
“Really, the crux is making a fulfillment store and how to make it work,” he says. “Some people are even asking for a drive-through fulfillment store.”
But won’t BOPIS stop people from browsing and picking up additional items to go with the product that they’ve ordered?
“It won’t increase the basket size, but they’ll buy value and keep coming back if they are satisfied,” he says.
If you want learn more about the future store and how it will operate, be sure to be at the Retail Evolution Summit. You can get more information about it and register here. Do it quickly, as we understand tickets are going fast.
Follow DailyDOOH