Here are several trends to consider when an electronic retailer wishes to reimage the store.
The last Media Markt concept stores to open were in Eindhoven Netherlands and Wilrijk Belgium. These developments aimed to present the electronics retailer as a driving force for ideas and inspiration in the retail technology market.
At the stores in Eindhoven and Wilrijk, differently themed freestanding pavilions provide visual stimulus whilst adding value to the customer journey. Each pavilion connects a product category to a lifestyle theme. In-store orientation and navigation systems have improved and an elaborate communication and branding suite to help the customer navigate the product offering has been developed.
By integrating physical stores with lifestyle pavilions and digital platforms, the aim is to create an easy, 'dynamic and inspiring customer experience' and convenient shopping for all customers. Media Markt management believes the omnichannel strategy they have implemented benefits customers by allowing them to move seamlessly between the various channels and choose whether they want to shop and experience the product offering in-store, online or for example, via social media.
The Media Markt concept stores have become a playground for electronics lovers and should be able to withstand the online competition and draw in younger customers.
Can such an innovative store formula be reconciled with the chain’s lowest price guarantee? Perhaps yes and then again no. “The lowest price is no longer a differentiating factor nowadays, but it is still a prerequisite.
It may come as a surprise to many retail teams to see the British retailer Argos comes out on top for the online share of voice (SOV), beating US giants Amazon and Apple. This points toward the idea that consumers favour retailers with strong brand values offering, superior e-commerce branding, in-store design and a vast number of electrical goods at great prices, rather than those specialising in just a few product categories, such as Apple and Samsung who underpin their product offering with innovative e-commerce branding and store design.
Of the top 20 sites in the electrical leaderboard, four are mobile carrier brands, two are hardware brands and one is a review site. For more than a decade, the top two performing companies in the UK are Argos and Currys PCWorld. At the same time, the management team of both companies have invested significant capital in the digital channels, retail design of physical stores and branding.
Put digital in your brick and mortar brand environment – Retailers realise the biggest impact digital can have on their business is in-store. Some of the most innovative and compelling store brands make digital a fundamental component when planning the physical experience.
Sell online instore – Online retailers are turning to stores to help them grow their businesses and help service their customers. But these are very different stores, ones that look to replicate the online experience in the offline world.
Many retailers are making online shopping easy with the introduction of fast track and store pickup AKA Click and Collect. Order the products you need from wherever, is most convenient for you, then pick up the items at the store for free as soon as today. Shoppers save money on shipping costs and enjoy even more value with discounts on items they pick up in-store.
Discover the value of your brand values – Brand authenticity and sustainability are becoming increasingly important in retail when consumers want to associate themselves with brands that have a sense of purpose and represent their views, beliefs and values.
Our internal process of renewal allows us to continually benchmark and write about the best in class retail trends in many market sectors across the globe. The images contained in this article have taken from the web and are credited to others and not related to Campbell Rigg. Please take a moment to review other news items linked to this page.
Why not call and talk to us about your retail brand, design or refurbishment programme, branding, digital and social media requirements.