7 Must-Haves For Retail Stores Of The Future: Seven strategies retailers must have to remain competitive in the current and future retail environment.

1. 7 MUST-HAVES FOR RETAIL STORES OF THE FUTURE
© 2014. All Rights Reserved.

2. > 7 MUST-HAVES FOR RETAILS STORES OF THE FUTURE
Most retail analysts agree that the “big
box” retailer of today, with massive
square footage, copious products on
display, and underpaid, poorly trained
customer service reps, is an
endangered species. The retail store of
the future will look a lot more like an
Apple Store than a Best Buy: Fully
multi-channel, with transparent pricing,
value-added services, and a re-focus on
building relationships through
recognition and reward. Take a closer
look at an electronics retailer circa
2023.

3. 1 // LOCATION-BASED RECOGNITION
When a customer walks into Big Box,
NFC technology detects the Big Box app
running on her smart phone. Because
Big Box’s database has flagged her as a
high-value customer, her name and
picture pop up on a sale’s associate’s
tablet computer, enabling the associate
to greet her by name.

4. 2 // MANUFACTURER-LEASED DISPLAYS
Manufacturers like Google, Microsoft,
and Samsung lease space from Big Box
to display their wares. Big Box gets a
piece of every purchase made in-store
or online.

5. 3 // REAL-TIME PRICING
Hot products appear on digital displays
around the store, promoted with how-to
videos, in-store commercials, and real-
time pricing—from both Big Box and its
competitors.

6. 4 // REWARD PROGRAM OFFERS
If a customer finds a lower price online,
the sales associate pitches instant price
matching if the customer joins the Big
Box reward program. The fee-based
program also offers free shipping and
advance notice of sales for high-value
customers.

7. 5 // MOBILE PURCHASES
Customers pay for in-store purchases
with mobile wallet-enabled smart
phones. Data analytics allow Big Box to
offer variable pricing on accessories and
peripherals based on customer value.

8. 6 // IN-STORE PICK UP
Customers who order online can choose
to pick up their purchase in-store to save
on shipping charges. Reward program
members get free home shipping, but
can reserve hot new products in advance
for in-store pickup.

9. 7 // NERD BAR
The Apple Genius Bar concept becomes
de rigueur for electronics retailers, who
attract loyal customers with superior
service. Reward program members
receive preferred appointments and
warranty extensions.

10. To learn more about new direction that will drive
loyalty for retail, read “Through the Looking Glass:
Building Relationships With Retail Showroomers” at
www.aimiainstitute.com
© 2014. All Rights Reserved.