We recently sat down with Bridget Brennan, Author, Why She Buys and CEO, Female Factor. In our conversation, she shed some light on how omnichannel is impacting retail, how shoppers are shaping the future of retail, where retail is going in the next five years, and more.
Here’s what Brennan had to say:
What can retailers do better to embrace the omnichannel customer journey and experience?
Brennan: Staying centered on the very human reasons of why people buy (and why they don’t) is the best compass for anyone. No matter what channel or technology is being used, retailers that drive an emotional connection with consumers do it through elements like great service, inspiring experiences, excellent products, good value and a brand that people want to be a part of. The opportunity is to play to the strengths of each channel to deliver these elements. One of the most effective ways to stay in tune with the modern consumer journey is to conduct qualitative consumer research on a regular basis.
How are shoppers shaping the future of retail?
Brennan: One of the big shifts we see across age groups is the desire for services and experiences. For brick-and-mortar locations, there is an enormous opportunity to deliver the kind of experiences that people can’t get through a screen. My local Nordstrom now has a beautiful bar on the second floor, right in the middle of the men’s section. Every time I go, it’s full of people who are clearly enjoying themselves. I predict we're going to see more and more retailers add both experiential elements and helpful services to their brick-and-mortar locations.
How is digital reinventing retail?
Brennan: In too many ways to count. Here’s just one: e-commerce has changed the very definition of ease and convenience. Which means it won’t be long before brick-and-mortar retailers change the very definition of what it means to be a store.
What are some key points attendees can expect to take away from your session at the event?
Brennan: People will walk away understanding the most important trends driving women consumers, and how they can leverage these as a blueprint for meeting women’s wants and needs. Women drive 70-80% of consumer spending with their combined buying power and influence. My goal is to provide actionable insights that help retailers stay relevant with the world’s most powerful consumers in 2016 and beyond.