Last week, our StoreForce team flew to Seattle, Washington, to dive headfirst into the world of Future Stores 2023. We mingled with incredible retailers and soaked up a wealth of knowledge we’re excited to share.
Get ready to take your retail game to the next level this year! Here are the three most interesting things we learned from the Future Stores sessions:
1. D2C Data Drives Physical Store Growth: Clicks to Bricks
We all know the magical halo effect that our physical stores can have on revenue. Here’s an interesting twist: Saatva, a leading DTC mattress brand, shared a unique approach to expanding its retail footprint. Their VP of Real Estate spoke about how they base their decision to open new stores using online data collection. They strategically determine where to build new store locations by highlighting shipping destinations. This data-driven approach allows them to showcase the overall impact of each store – emphasizing the importance of their expansion efforts. It’s a clever way to grow while staying in sync with customer preferences and being there for them wherever they are.
2. Teamwork Makes the Dream Work: Breaking Down Silos
It’s time to ditch the silos and embrace teamwork! From Hudson Group, Ruth Crowley wisely said, “Don’t let the hierarchy lines of an org chart interfere with a horizontal process.” In other words, let’s work together as a united front. When tasks need to get done, it’s all hands on deck. Cross-organizational cooperation is key to achieving success in this dynamic world of retail.
3. Everyone Should Access Technology In-store
The retail landscape is evolving, and technology on the shop floor is becoming an integral part of the shopping experience.
We noticed that retailers are keen on integrating technology into their day-to-day operations. And guess what? This tech shouldn’t be exclusive to just the customers or the store associates—it should be accessible to both on the shop floor!
Think of it as a device that empowers your store associates and delights your customers. For instance, imagine having handy tablets stationed by-product stands. These compact devices can give customers valuable insights and information while allowing store associates to quickly search for product numbers, leading to faster sales and happier customers.
We had an absolute blast at Future Stores this year! Connecting with fellow retailers and learning from the industry’s brightest minds was fun. Until we meet again, stay awesome! 😊
by Michael Foster
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