4 retail lessons from big brands
Perhaps one of the biggest influences of the COVID pandemic has been the acceleration of the shift to digital spaces, whether for commerce or subscribers. Many are eager to jump into trends in social, crypto and virtual spaces, but as the world returns to interaction between physical walls, the future of retail will look more like a hybrid model.
Carey Collins Krug, senior vice president of marketing at Abercrombie & Fitch, explained that the key is knowing how you think “about connective tissue and having a single view of the customer across all different channels and networks,” explaining that a only customer can interact with Abercrombie & Fitch on social media while browsing products on its website and then purchasing the item in a physical store. She then described the consumer as “the mediator and the motor of this tension between the two worlds”.
Similarly, Alyssa Raine, group vice president of customer marketing platforms at Walgreens, said she sees the future of shopping as a hybrid model. She envisions a marriage of physical and digital shopping where “you walk into a store and there are options for your needs, but you have access to a digital shelf that will have more niche products that can meet your personalized needs” .
Lauren Weinberg, director of marketing and communications at Square, also described a growing hybrid approach to payments — where purchases are made online and picked up in-store or vice versa.
“People really appreciate all the preferences that have been introduced during COVID, including QR codes,” she said. “There’s so much that was always on people’s radars that really started to pick up speed…it’s a one-way street and I don’t think people will ever come back because it’s It’s really about making it easy.”