In her latest article, Real-Time Data Will Make or Break Brick-and-Mortar Businesses. So What Can You Do About It?, Resonate CMO Ericka McCoy examines the challenging times facing retail brands, particularly brick-and-mortar retailers.
“E-commerce is establishing itself as simply the new commerce” – Ericka Podesta McCoy, Resonate CMO
The brick-and-mortar retail experience defined commerce for much of the last century. Yes, e-commerce and the act of buying with the click of a button has become omnipresent but touching and holding an item at checkout, seeking out an in-store experience purchasing power with a feeling, instant gratification; these are the reasons why many people still shopped in-person. So, how will brands translate this into an online environment?
In 2020, brands looked to quick pivots based on real-time data. Curbside pickup. Safety protocols. These were impactful switches made on a dime to adjust to how consumers buy now. But looking towards 2021, we know based on AI-driven data that these changes will likely become macro shifts that define the future of brick-and-mortar shopping.
Agility and Real-Time Data are the Future of Retail
How will brands, particularly those with brick-and-mortar locations, continue to keep up and adapt? We’ll see those who are agile in following continuous shifts in consumer comfort levels and expectations rise to the top. And those who are relying on months-old data to guide decision making will find their future is built on quicksand.
Want to dive deeper into McCoy’s AI-driven insights on the future of retail? Read Real-Time Data Will Make or Break Brick-and-Mortar Businesses. So What Can You Do About It? on Total Retail today. Then download our latest retail guide, just in time for the holiday season: Holiday Shopping 2020 Preview.