As we step into 2024, the retail game is undergoing a transformation, blending consumer trends with cutting-edge tech to redefine the playing field. The burning question for brands and retailers: What strategies will lead to success in this competitive arena?
Retail Triumphs of 2023: A Glimpse into the Future
In 2023, positive trends emerged for brick-and-mortar stores. According to Forrester research, in the U.S., 72% of retail sales still take place in physical stores, mainly for product testing and immediate purchases. Additionally, Canadian in-store sales are expected to experience a solid 2.8% year-over-year (YoY) increase.
Now, the critical question: What trends should be embraced to shape your in-store triumphs in the digital era?
- Adopt Digital Training Platforms
In a knowledge-driven world, a digital training platform becomes a powerful tool, providing sales associates instant access to product knowledge and effective sales techniques.
One platform stands out in this tech revolution: Montreal-based startup ENDVR has already become a trusted player, partnering with top brands like Burton, The North Face, Oakley, Mountain Hardwear, Arc’teryx, SMITH, OTIS Eyewear and more.
Rated 4.9 out of 5 on G2.com by Retail leaders, ENDVR revolutionizes in-store strategies by delivering measurable Return on Ad Spent (ROAS) and visibility for each store’s sales.
Ultimately, investing in the latest technologies is only valuable if your staff has the necessary knowledge; otherwise, it can result in losing customers, even when they are already in the store.
- Focus on Bite-Sized Education
In a time-conscious world, education must be on the go, offering microlearning lessons that employees can consume during short breaks. Sales associates should access these modules anytime, anywhere, seamlessly integrating continuous learning into their daily routines.
For instance, Mountain Hardwear swiftly adapted education modules on ENDVR, ditching old-school cards and relying only on reps, resulting in immediate and robust engagement.
Alex Colvin, Sales Manager at Core Surf USA who represents OTIS Eyewear on the market, confirms: using ENDVR is like a “digital sales training clinic—simple, effective, and impactful. Shop employees translate knowledge into sales, even with a quick skim.”
- Launch Sales Incentive Programs that Resonate
Motivating employees should be more than just a task; it should be inspiring. Think outside the box — play with different rewards, from free products to concert tickets. The sky’s the only limit!
ENDVR helps to shake up manual sales incentives, taking them into the digital space, making it a breeze to launch and manage programs from one central place. With a visually appealing and easy to use dashboard, those using the ENDVR dashboard can see a reward system that will show team members how and where to heighten campaign engagement.
The results? Oakley saw a 43% sales boost, and OTIS Eyewear turned sales contests into a data-driven powerhouse, generating over $320,000 in profit.
- Establish Channels for Digital Feedback
Communication should be a dialogue. Find a seamless platform to engage with your retail partners and sales associates: from feedback submissions to fostering open communication, every voice should be heard.
ENDVR helps to simplify Retail Ops for brands and retailers, going beyond the norm: brands can launch digital campaigns, engage through surveys with the front-line staff, and even create a buzz on social media.
Mountain Hardwear faced hurdles with POP displays before using ENDVR, but now, merch checks have become a cakewalk. For over 3 years, ENDVR has been an integral part of their Go-To-Market strategy and Marketing Calendar.
- Level Up Routine with Gamification
Gamifying training programs adds an element of fun and competition, making the routine process even more engaging and rewarding for employees. This approach is crucial for enhancing employee motivation, retention, and skill development. ENDVR helps transform training into an interactive journey, complete with campaigns, challenges, store leaderboards, and different rewards.
Your Next Move: Shaping Your 2024 Success Story
Ready to script your 2024 retail success story? Explore the possibilities on ENDVR’s website. Brands and Retailers aspiring to reshape their strategies are invited to bi-weekly Live Webinars for an introduction to the retail evolution. Seize the future with ENDVR!