Is the convenience economy convenient for retailers?
Through a special arrangement, presented here for discussion is a summary of a current article from the Retail TouchPoints website.
Just when retailers are finally getting up to speed on omnichannel, they face a new challenge: The Convenience Economy. It’s hard to argue with convenience, right? But for retailers, that means finding new ways to get products and services to customers even faster, and finding the right partners to make this goal a reality.
Today, retailers can choose from a variety of partners that can help facilitate their convenience objectives, including UberEATS, Hurrier and GoButler, to name just a few.
“It’s all about everything being at your disposal at the click of a button, primarily driven by mobile technology,” noted Chris Bryson, CEO of Unata.
The question for retailers: Are we set up to be able to offer these types of on-demand products and services? Harkening back to the Daily Deal service that destroyed many small businesses due to over-demand, retailers need to be sure they are set up to “deliver” on this promise.
To help retailers hone their focus, Mr. Bryson discussed five ways to expect the “convenience economy” to break into retail:
- A continued focus on mobile to create an “anytime, anywhere” experience, enabling online browsing on the go, ordering ahead, paying ahead, curbside pickup, delivery, and more.
- More use of wayfinding and location-based services: just like Uber, users want to be notified when their order is ready, or if their delivery is near. Delivery management software like Onfleet & Bringg enable these capabilities.
- Targeted offers through beacons and proximity-based services (like Gimbal) to consumers when they are nearby or in-store, to inspire them to buy at just the right moment, making their grocery trip feel easy and successful.
- Digital coupons and offers from your mobile phone, allowing the consumer to clip and redeem coupons digitally, while in store. No more cutting up paper or printing coupons.
- Order ahead and delivery for catering and prepared foods. This is a huge opportunity for grocers that service lunches with their specialty sections.
In what ways do you see on-demand technologies altering expectations around convenience for retailers in the years ahead? What services or features that seem like a bonus to customers today will be expected tomorrow?