The Future of Retail
Unless you've been living under a rock for the past 12 months, you might know that many brands, retailers & design consultancies are trying to figure out the answer to the million dollar question 'What does the future of retail look like'?
I'll try to keep this simple. And promise not to use the phrase 'brand storytelling' ??.
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Retail is no longer only about selling product. It's also about selling lifestyles and ambitions. The journey for a customer to purchase something is a much more emotional experience. From initial brand immersion (whether that be scrolling through a heavy social media feed on a smartphone or the first glimpse of a new window campaign on a busy high street), brands need to grab our attention and connect with us in a personal, meaningful way, until we are convinced to take the leap of faith and wave that contactless debit card.
Mynt specialise in defining brands. We do this across all levels of the customer journey. The future of retail isn't just about what your store should look like. It's much deeper than that. It's about tapping into your customers' lifestyles and mindsets and adding value to them. How do you do that? Here's a precis of how Mynt can help...
Step 1 | Discover Your Brand's Truth.
Defining a brand's authenticity and originality is about unearthing the truth. People trust the truth (and can see through fabrications). Real truth is power. The power of a trusted brand with today's savvy consumer cannot be underestimated.
A brand needs to find points of parity and difference within its category. What is truly unique to your brand? Once we discover this together, we're on the way to establishing your brand from the competition. This is really important to define before designing any communications / experiences.
Step 2 | The Art of Conversation.
Whether you're communicating on a Facebook post, a TV ad or an in-store campaign, the goal here is to build long-term and meaningful conversations and relationships with your consumers. It's not about a one night stand. It's about constantly adding value to your customers' lives and keeping the conversation flowing, no matter their choice of platform. We can capture important data to ensure the on-going conversation is personal and relevant to each of your customers, whilst remaining true to your own brand personality.
Step 3 | Defining Physical Spaces.
Stores of the future will see greater emphasis on product customisation, demonstrations & personalised customer experiences. We’ve seen glimpses of retailers and brands attempting to make the customer experience at retail more personal with the aid of intelligent technology such as ibeacons to greet customers and recommend certain products, promotions, etc. It's great, but is dependent on many factors working harmoniously, and also isn't appropriate for every brand - it also doesn't lend itself well to relaxed, casual in-store browsing.
For brands and retailers wishing to create immersive, digital experiences, even more intelligent (and easier) ways of making shopping experiences truly personal must be explored. Again, it's about adding value to the products you are selling and enriching the customer's experience, convincing them to continue to engage with you after they leave the store.
The 'future of retail' doesn't mean 'digital', however, for every brand. We are working with various homeware retailers to create new physical experiences. Much of the customer experience revolves around consultation and the ability to touch and feel product - almost as if in a working studio. Stores of this nature will need to be geared up in the future to become accessible & flexible spaces. It's about putting the customer at the heart of the experience and giving them control. This is a very specific requirement to these types of environments.
Unearthing your own brand truth as well as the desires & ambitions of your customers will enable you to define your 3D space. One size will not fit all.
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There is no magic answer to 'What does the future of retail look like'? There isn't a standard fit. Define your authenticity and truth. Create long-term conversations, which add value to your customers across all channels, and identify the requirements of your customers to inform the design of physical spaces.
Mynt work with ambitious clients to define their brands across all communication levels. Retail is no longer only about selling product. It's also about selling lifestyles and ambitions. Let's define your brand's future together.
+44(0) 1664 423 110 | www.mynt.co.uk | [email protected]