Excerpt from roundtable during Tango’s virtual retail summit The Next Normal for Retail Location Strategy on May 19, 2020.
Shopping Experience & Store Prototypes in a COVID-19 World
Shai Verma – Partner, Retail Technology, Deloitte:
“Moving over into the new normal from a shopping experience perspective. What do you see here, Shai? You’ve talked about the customer experience and a lot of other things inside your comments. How is that to manifest potentially in the change, in the shopping experience, in the physical prototype of the store itself?
“I don’t want to say that I have 100% clarity on what’s going to happen, I don’t think anybody does, but our emerging perspective, let’s call it that, is that physical footprints are going to be smaller. Retailers are going to promote the concept of some of these digital tools and capabilities like curbside pickup, click and collect, et cetera. I think there’s going to be much more of a brokered experience coming into retail, it’s not going to be, “Come in as you want.” The concept of appointments and things of that nature are going to start emerging. These are things that we all are very uncomfortable with to a certain extent because it’s so different than what we were experiencing and what we’ve experienced in our lifetimes. But this is the type of event that’s going to change some of those behaviors and some of those processes.
“Again, it’s those companies that are starting to think about this now, that are going to look at it right now, that are going to succeed by using some of the analytical capabilities that Pranav spoke about and using some of the collaboration that Shannon and I have been discussing – these are things that are going to be essential to what that new normal is going to be. Again, the point is that there is no one new normal, the new normal is different for every segment of retail and it’s going to change over the period of the next six, 12, 18, 24 months. That new normal is going to continue to evolve. It’s those companies that are agile, quick to respond to marketplace change and understand that this is not a one-event situation, this is going to happen over time, these retailers are going to do better in the future for sure.”
Want more? Get access to the full on-demand virtual summit here.
Interested in learning more? Schedule a demo.