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Understanding Hybrid Retail in 2022

by Nathan Zachary

In recent years, the retail industry has undergone a lot of changes. The gap between brick-and-mortar shopping and remote shopping is shrinking down. The competition among retailers is growing. And to sustain, retailers have to adapt new models of working, like – hybrid retail.

So, in this article we’ll learn about hybrid retail and ways to implement it in detail.

What does hybrid retail mean?

To put it simply, hybrid retail is a combination of traditional physical stores and eCommerce. Retailers can utilize the best of both worlds and provide consumers a seamless shopping experience. Hybrid retailing offers a plethora of choices. Consumers can decide how they want to shop.

For instance, BOPIS (Buy Online, Pickup In-Store) option enables customers to get a complete shopping experience at their own convenience. Multiple options, in turn, makes shopping a fun experience and guarantee complete customer satisfaction.

If you play your cards right, hybrid retail models will get you maximum customers and increase brand loyalty and trust in no time. It is the perfect blend to deliver a unique customer experience.

Hybrid shopping journey

Until recently, retail was uncomplicated. Traditional stores had a singular motive. Consumers went to the physical stores to see products, buy what they want and then take it home. The options were limited and there was a timeframe. While online shopping gave more accessibility and convenience, delivery wasn’t fast enough.

The blurring of the lines between physical stores and online stores with the emergence of hybrid retail reimagined marketing in all aspects. Now, a typical shopping journey includes both traditional brick-and-mortar means and digital platform interactions. Customers can purchase online and pick it from the store or showroom and go home to order online.

The hybridization of retail unleashed many growth opportunities. Convenience, customer satisfaction, and trust are direct impacts of a flawless shopping experience. But if the shopping process is complicated, you are making your customers bored.

How to execute a hybrid retail strategy?

To find your ideal hybrid retail strategy you should consider the kind of store you run. Here are some general guidelines to adopt the right mix of channels for your shoppers.

1.     Provide Traditional and Online Purchasing Options

With both online and traditional stores, there is an enormous growth opportunity. As customers get the benefit of freedom- of time and access, it gives them more convenience. They can choose to order online and pick them in-store or get the complete shopping experience by visiting your physical store.

2.     Offer a Unique Customer Experience

Eliminate the pain points in the shopping journey and give more options. You can easily analyze individual user behavior and provide your customers with personalized experiences. Make your customers feel valued through loyalty programs and other incentives. This helps you build a loyal customer base and increase retention.

3.     Utilize Technology

Investing in technology is a best practice to enhance productivity and reach optimum workflow. The relevance of a good point-of-sale system is undeniable. It will smoothen the checkout experience and speed up the whole payment process. Also, use the reports and analytics from the data collected to make business decisions.

4.     Engage With Customers In-Store

Customers visit physical stores to receive the complete shopping experience- to see, touch and feel the products. Identify ways to entertain your customers and promote sales. Ask for feedback from your loyal customers and understand what hinders you from giving the best service.

The customer is king in retail. Invest in ways to create more convenience and elevate the shopping experience of your customers. For this, all you need is the support of 24Seven Commerce– The Omnichannel eCommerce solution provider. Octopus Bridge plugin by 24Seven Commerce seamlessly connects all your sales channels and manages your business from one place.

Partner with 24Seven Commerce and implement your hybrid retail strategy effortlessly.

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