Owning Today's Hybrid Shopper
How do retailers solve for the holy grail of shopping: motivating the 90% of in-store consumers to engage digitally and drive margin-rich revenue? By meeting the increased demand for personalized experiences that span digital and in-store touchpoints. Sean Turner, Swiftly Co-Founder and CTO of Swiftly discussed how retailers can create meaningful digital connections with their customers that drive business outcomes.
Sean discussed how Swiftly’s technology is helping retailers to democratize the advantage that large retailers such as Walmart or Amazon have and deploy that across the rest of the brick-and-mortar industry. He emphasized the importance of addressing the omnichannel shopper with a digital solution that services not just online shopping but in-store shopping as well. He also explained the company's belief that brick-and-mortar retailers have the right to win and make a significant impact in capturing ownership of the digital customer relationship. Lastly, he discussed how their technology can drive significant results for a store in the midst of increasing grocery inflation, and how their digital tools respond to the needs of consumers as they look to stretch their dollar.
Sean highlighted a project with 99 Cents Only Stores for its 382 stores across California, Texas, Arizona, and Nevada that involved upgrading a retail store's app experience. The app features the store's product catalog and pricing for local stores, and allows shoppers to add items to a shopping list, view personalized offers, and receive targeted push notifications. Sean explains that personalized messaging, digital loyalty, and showcasing the unique value of the store are key to driving sales and retaining customers. The speaker also highlights the importance of being close to the point of purchase to boost conversion rates. Overall, the app project led to increased basket sizes, shopping frequency, and retention rates.
Key Takeaway Points:
- Consumer behavior evolves with industry shifts, and this is the toughest environment we’ve seen for the American consumer
- A truly connected and personalized experience for customers is critical for today’s hybrid shopper
- Retail media will grow to $100B by 2026, so retailers must embrace new digital retail technologies to combat inflation, achiever better margins, build long-term loyalty, and deliver value
- By partnering with Swiftly, The 99 Store built new digital solutions that allowed them to retain margins through technology rather than economics
- Retailers can accelerate success by partnering with retail technology leaders that offer expertise and resources with minimal investment