A phygital store is an exciting development for online retailers. It has the potential to simplify many complex processes that can otherwise be overwhelming for online store owners. What makes a physical store so different is that it enables online shoppers to access the extensive catalog of products available through their local physical store. As well as the large inventory of products available, customers will also have access to a live customer service line and access to an extensive selection of promotional items and services. The following are the main benefits of using a physical store.
Reduced Operational Costs: One of the largest costs associated with an ecommerce business is rent and operating expenses. By providing a high quality physical store, the company will be able to reduce these costs. A physical store offers a combination of onsite service, including an experienced customer service team, along with a number of flexible product displays, where you can display a range of products quickly and easily. By allowing customers the ability to use the store without having to visit the physical location, you will be able to cut operational costs, freeing up financial resources to increase revenue. With a reduced need for rent, along with no need to hire additional staff, you can focus more time on developing new products or enhancing your existing collection of products.
Improved Customer Experience:
One of the biggest complaints about online shopping is the lack of interaction between customers and businesses. Phygital stores offer a combination of in-store shopping, where customers can make purchases and look at the available products, along with the ability to place online orders for things such as books, music downloads and other services. By allowing customers this full online experience, you will be providing a more satisfying and rewarding experience for customers. Phygital stores need to constantly differentiate themselves from other online stores in order to remain relevant, so it’s important that they offer a superior experience for both clients. By improving upon this experience, you may also find that customers become repeat visitors, rather than visiting once.
Improved Customer Retention: Many businesses fail to realise the importance of ensuring that a customer continues to return to a particular site. A physical store is no exception, and by offering a unique and engaging user experience, you can significantly improve retention rates. The key here is not only making sure that a user has a pleasant experience, but also by understanding and addressing any technical issues that may arise. As well as monitoring the performance of the website, you can also look into how customers have moved to other Phygital stores – a process which can help you gain greater insight into how successful a site is and how you can improve its performance.
Increased Customer Service Opportunities:
Perhaps the one area where most businesses fail to realise the benefits of phygital stores is their lack of customer service. While this may seem like a small thing to consider, it is in fact one of the biggest drivers behind why consumers choose to do business with a particular company over another. Whether you are dealing with a large number of international shoppers or simply a local family looking for the convenience of a local outlet, providing an excellent level of customer service is paramount. By streamlining your contact center and incorporating innovative tools such as live chat options, you can ensure that consumers remain loyal to your brand.
Increased Consumer Reliability:
Another of the major benefits of physical stores is the level of reliability and interactivity with which customers are able to work with. Rather than relying on outdated infrastructure, modern retailers are able to utilise state of the art technology, which offers them the opportunity to interact with their customers in a highly effective manner. This can be incredibly beneficial when trying to establish a long-term clientele. In addition, augmented reality allows consumers to explore the world around them without ever leaving their homes. For brick-and-mortar retail, this can lead to greater consumer confidence and awareness.
Improved Digital Shopping Experience:
As aforementioned, many customers are completely oblivious to what it is they are doing at the time they enter a physical store. On the other hand, online shopping experience is largely unaffected by the surroundings (aside from noise, dust, and certain elements). Phygital, by incorporating a number of modern features such as a virtual shopping cart and customer-friendly search options, helps to ensure that customers are able to quickly locate the things that they need while still multitasking. The result is a highly efficient and effective physical experience, which ensures that shoppers never get stuck in the middle of completing several tasks.
Whilst it would appear that the benefits of physical retail are solely those that arise from its physical proximity to a physical store, the fact is that it also offers potential consumers with an improved level of digital engagement. As well as experiencing the benefits of interacting with a physical product, they can do this via a medium that offers a better degree of digital efficiency, such as through viewing the available products on a digital screen, or by searching available items using a keyboard or touch screen. Therefore, it would seem that a combination of both physical and digital efficiency is vital in helping to maximise the consumer experience and, as such, Phygital has positioned itself firmly within the world of modern e-commerce.