New relevance for store concepts wanted
Concept innovation more important than ever
The retail world has been mainly focusing on two things in recent years:
- Getting and keeping the costs under control.
- Making the organisation, stores and staff omnichannel.
Let’s be fair here: both these strategies have proven essential in the battle to survive. The first by safeguarding (healthy) margins in turbulent and very competitive markets, thus creating financial room to stay afloat in the short term and to grow in the longer term. The second strategy does this by continuously meeting the rapidly changing consumer expectations in terms of convenience, availability and speed. Omnichannel retailing – or total retail – has evolved in just a few years from an exciting innovation into a differentiating service and on to a clear-cut dissatisfier, a fundamental requirement for modern retailers and retail-oriented brands. But where do we go from here?