On Retail - Episode 12: The store is no longer the store
Brick and mortar is so last century. And online is so last decade!
The next big trend is Retail as a Service (RaaS). It offers solutions for cost-conscious retailers to provide a great brick and mortar service, but without splurging out the cash. It’s being driven by a new consumer trend - “showrooming” - where consumers spend time browsing, touching and feeling physical products in a traditional store, before making the purchase online or via an app.
But why is this a game changer for retailers? Put simply, RaaS is a great way to merge online channels with a physical high-street environment. Sales associates are trained to familiarise themselves with each product, and then educate consumers on how that product might benefit their daily lives. And it goes beyond the shop floor too - think advanced checkouts, live product recommendations, and cutting edge inventory management!
On this episode of On Retail, Senior Business Consultant Jake Knowles, and BJSS Head of Retail, David Gore explore the types of markets that exist for RaaS applications.
On Retail is the retail podcast of BJSS Business Consulting. Visit us at bjss.com to learn more.