This B2B retail report created with writer Josh Walker, identifies ways in retailers need to redress the metrics they use for defining a store’s success.
In order for retailers to evolve, physical stores must embrace technologies that have helped their online counterparts succeed. The biggest mistake many traditional retailers have made is treating e-commerce as a separate channel and creating siloed experiences, metrics and incentives.
I led the research and analysis of this project and identified that although the retail apocalypse was clearly impacting the high street, the metrics that retailers were using such as sales per square foot and year-on-year sales are from a pre-Amazon era. Instead, this report provides new metrics that brands can apply to the store of today, such as digital purchase intent or inspiration per square foot.
The full report can by downloaded from Thefuturelaboratory.com/reports
Creative commission by Max Guther