Traditionally December was full of festive-fights as consumers and retailers alike battled it out for Santa’s popular gifts – either purchasing or competing for sales. Then came online shopping - the next big retail trend to pacify consumers, antagonise retail and perplex marketers.
But the trends changing retail in 2018 and 2019 are no longer just about bricks-and-mortar vs online. Rather, to remain competitive, brands must align both worlds, offering IRL (in-real-life) experiences supported by several real-time digital experiences. Because we all know the power that comes with our mobile devices.
What this means in this ‘new retail’ environment, is that to deliver more seamless and simple participation experiences, brands must become more sophisticated with the technologies they use to create in-store experiences.
No longer is technology the domain of online, it’s just as much a part of traditional retail as prime real estate and strong promotional offers.
So, what can brands do to stay ahead in the evolving retail environment – the ‘new retail’?
At Edge we’ve seen strong performers have integrated online and offline with new technology platforms. Here we’ve outlined three key trends in ‘new retail’.
1. Radical POS rewards
Sometimes what’s old is new again. In the ‘new retail’ world, point of sale strategies are being used to deliver promotional offers in innovative ways. Brands are leveraging digital technology like the Edge POS Rewards Platform to issue rewards in-store, in real-time, from a centralised control.
This makes it super-fast for both the consumer and also for the brand. It can also help a brand become more agile, eliminate wastage on unused stock and extra processing costs.
2. Connected retail management
To help deliver strong sales outcomes, Edge’s Trade Management Platform can help brands increase their visibility within retailers in multiple ways.
Change the following copy to: Through the Trade Management Platform brands can incentivise retailers with rewards delivered instantly, educate users on their latest brand news and create point-based incentives. Retailers can earn points for achieving sales growth targets and completing activities such as in-store displays or increasing their product range, the more points they obtain the greater the reward.
Our Tip: Get creative with rewards to help engage a diverse variety of users and make sure to regularly update content in the portal so there’s always something fresh to look at.
3. Data and digital driving participation
Brands that are leading the way, understand that participation isn’t solely reliant on foot traffic. Consumers in-real-life make decisions in-store based on the sensory experience offered, while connected to mobile devices.
Entry mechanics that are designed to secure strong customer data but make it simple for the customer are essential in ‘new retail’. Likewise, new digital and data focused validation tools are enabling brands to run unique point of purchase offers without packaging integration.
Our popular AutoCheck mobile technonology uses scanning to validate claims, providing a threefold benefit;
How ‘new retail’ works in real-life
A good example of how this all comes together is PETStock’s ‘Wheel of Pawtune’ prize draw. PETStock members that purchased a participating product and scanned their loyalty card received an entry into the prize draw modelled on a game of chance.
If a strong competition activation like this is implemented during a peak event like Christmas or School Holidays, it could be the solution that cements a brand in the new bricks and mortar retail world.
For a tailored solution to leverage new retail technology trends, get in contact with us.