The Retail Roundup: Don’t let digital fatigue get you
The world of retail is fast.
In fact, I talk to people every single week who feel as though everything around them is moving at lightning speed. New marketing tactics every hour, a constantly shifting digital space and attempting to understand how to deliver exceptional customer experience can certainly feel overwhelming.
But that’s where I come in.…
Not only did I work as Head of Buying for the Selridges, but I’ve spent years teaching changemakers in the retail industry how to grow, innovate and, ultimately, how to carve a space for themselves in this busy world. It’s safe to say that I’m pretty on-the-pulse of all things retail!
Three things to think about right now for a thriving business
Digital fatigue is here
Digital fatigue is a trend I’m noticing a lot of recently with clients and personally - you probably are too.
Deleting sales emails, if we have even noticed them in the first place! Unfollowing brands on social media. Feeling bombarded by short form videos on every single platform, that are quite simply impossible to remember when we see so many of them.
Following the digital boom during the pandemic the online space is getting harder to navigate. Add in the number of changes in digital marketing and iOS updates, it’s even more complicated and shows no signs of slowing down any time soon.
This can be challenging for brands and retailers, especially those that are digital natives. The tactics that once worked, no longer do. So where do we go from here? It’s time to rethink your digital approach.
eCommerce is about more than your website, we now have social commerce, live commerce and re-commerce (rental and resale). I see two opportunities evolving and coming to the forefront.
First up, live shopping: When customers are given the chance to speak to either a brand expert or an influencer and then often instantaneously shop any of their given recommendations. Chinese shoppers are already way ahead of the game on this one.
Live shopping will be a huge way to combat digital fatigue, as it increases the length of customer engagement online through the power of human interaction.
The second trend I see emerging is text communication. If you can get close enough to your customers to get their phone numbers, you can use this tool to increase loyalty and spend.
I like to think of it in the context of how many emails we all delete without reading each day versus how many texts we open and read. If a brand is texting you, it makes sense psychologically that you’ll think of them as closely as you do a friend. So this presents a huge opportunity to forge a deeper connection with people.
Before implementing, consider how you approach this. These messages shouldn’t just be automated, as that may mean losing customers who don’t feel the content is right for them. If brands are able to have a real person on the other end of the text, who is sending information that’s tailored exactly to the customer, it’s an amazing opportunity.
This evolution of customer engagement is ‘conversational commerce’, and creates a genuine human connection many are craving. Ultimately it’s about a deeper connection between brands and shoppers across digital platforms, and can be done quite quickly and easily.
2. You can either innovate or decline
I’ve been impressed with Marks and Spencer recently. They seem to have realised, like many others, that it’s time to innovate or to decline. And they are firmly committing to the former.
The rate at which they are re-inventing is beyond impressive!
Recently, they’ve collaborated with Hirestreet, offering customers the chance to dress more sustainably through clothing rental. As I mentioned in this blog post about retail trends in 2022, eco awareness is a big one to watch.
As it stands, they’re currently offering a capsule collection of their clothing, but I’m keen to see if they extend the offering to some of the other brands they stock. For example, higher ticket options, like Jaeger.
Not only do I think sustainability looks good on M&S, but I also believe it will boost sales. After all, it allows customers to give clothes a “test drive” for fit, fabric and feel, before actually fully committing.
Marks and Spencer is reinventing itself for their customers and adapting to the future of how we shop. Take note!
3. It’s time to get physical
Despite what the fear mongers may have you believing, physical retail is not dead. Sure, it’s changed a lot in recent years and seeing the downfall of certain big players on the highstreet can feel worrying for brands. However, in-person retail is actually thriving in some places. Where the strategy is right, that is!
Take Mint Velvet, for example. To celebrate Earth Week, they resold pre-owned items from their brand for just £5, with all profits going towards sustainability efforts. Not only did this encourage footfall from people donating their no longer wanted clothes, but it also allowed Mint Velvet to jump on the resale and conscious business movements which are gaining traction. Put simply, it made them look good!
The fashion brand did a brilliant job of empowering their staff on a local level, by getting them bought into the vision. Each shop likely had a slightly different take on the event, whilst still holding true to Mint Velvet’s core aims. As such, every customer got a brilliant experience, fuelled by the company’s mission!
This also comes soon after Gymshark announced more local teams to better service customers and “create commercial accountability within the appropriate geography and ensure customer strategies are being driven by local experts, knowledge and data.”
All of this isn’t to say that brands need to have a shop on the high street in order to survive and thrive. However, here’s something to consider: What can you, as a changemaker in retail, do to add a physical element to your business, alongside your digital presence? This could look like trade shows, events and experiences for customers. It’s all about adding a different level of engagement!
In the press…
“If brands can capture a customer’s attention over text, and they’re willing to give you their mobile number, this is a huge sales opportunity. I like to think of it in the context of how many emails we all delete without reading each day versus how many texts we open and read.”
- Wizz speaking to Beauty Independent
I recently shared my thoughts on the power of “conversational commerce” as an opportunity for brands with Beauty Independent. So, if you want to learn more about how to harness text messages within your company and increase customer lifetime value, be sure to give it a read.
Are you looking to take inspired action?
At the moment, I’m working with a number of change makers to review their strategies in order to re-focus. This comes as for many, engagement and sales have either dropped or plateaued. Customers are all looking for deeper connections and quicker solutions, as our current climate has left them overwhelmed and time-poor.
The key challenges I see from businesses I work with are…
Struggling to find new customers and make necessary sales
Knowing which direction to take the business in, as the market is evolving
Understanding how to stand out in a crowded market
As their strategy mentor I help them focus on…
Positioning and messaging to ensure a clear point of difference, based on market trends
How and where to connect with more of the right customers to scale more profitably
Distribution Strategy, so that they can achieve more sales through existing and new channels
Retail is about more than selling products in shops. That’s why I work with changemakers from brand leaders, retail CEOs and investors, to founders, technology solutions, management consultants and service based businesses, to help them navigate and implement change.
I am known for working quickly, if you want to get super clear on your strategy and have me as your sidekick, let's talk!
What else has been happening?
It’s been a busy few weeks…
I spoke at the Internet Retailing Expo recently about how we can “decode” Gen Z; today’s most influential generation. I also hosted the “customer panel” stage and moderated the panel for “digital retail predictions - where will we be in five years”. If you’re looking to navigate an important demographic for many then download this jam packed report from Drapers, about Gen Z and Millennials.
I have been judging the Retail Systems Awards! It involved reading a lot of pitches and I shared my thoughts here. Plus, don’t forget that I shared my 5 top tips for pitching to retailers, which you can find here.
I was a guest speaker at White Label World Expo and talked about “Retail vs. DTC, what to consider when building a brand” You can watch the full recording on Youtube here, and don't forget to subscribe and turn your notifications on for the latest updates.
Events coming up…
I am excited to be hosting the Retail and Omnichannel stage and at 5pm speaking on the panel “What customer centricity now looks like. Analysing the UX of digital & mobile heavy journey's for improved loyalty” at FUTR Europe on 1st July. Let me know if you are attending as I would love to see you in person
12th July 3pm BST I will be hosting a webinar on a hot topic: “Pricing and Promotions - strategies to manage pricing and supply chain issues to grow your profits and keep customers happy”. Sign up details here
More In the press
Here are some recent articles I featured in and had published in the trade news:
Drapers, Counting the cost of fashion’s returns problem
Natural Products News, Five tips to turbo charge your brand growth
London Daily News, Why retail isn’t dead for 2022
A final moment of inspiration
At a recent event I attended, I heard the founder of Grind Coffee speak who said something that I want to leave you with today. Talking about the change we’ve seen in digital, he said…
“We are seeing the return of marketing as an art, over marketing as a science”
This is definitely something to keep in mind!