Building Retail Right

The allure of building a retail space is strong these days, but doing it right is critical. How do you know when to spend big bucks on fancy tech and when to equip your employees more instead? What is the special sauce to creating an environment where customers will keep coming back? It’s an exciting time in retail and Rebekah and Libby give us insight into why and their take on what is coming in the future in the world of physical retail. Listen now! 

Retail is Alive and Hot

Key takeaways:

- One critical advantage physical retail has over the digital space is human interaction, which can make or break how a customer feels about a brand.

- The similarities between theater and retail highlight the importance of behind-the-scenes work in creating an exceptional customer experience.

- Pop-up shops aren't sufficient for testing physical retail viability, but they can provide valuable insights if brands know what they want to achieve.

-  Well-trained store employees are crucial for creating positive brand experiences and building lasting customer relationships.

-  The future of physical retail lies in personalized experiences, smaller store formats, and operational agility to meet changing customer needs.‍

• {00:10:27} - “When brands go into a popup experience, they need to know what it's for. What are you trying to get out of it? Your customer is physically in front of you. That doesn't happen on a website. So how are you taking advantage of that?” - Rebekah
• {00:14:26} - “What they have in the physical space is one critical, critical tool that they do not have in the digital space, and that is people. Because at the end of the day, people buy from people. And what a customer feels about a brand in a retail space lives or dies by that human interaction.” - Libby
• {00:21:37} - “We're like, "Put down the expensive tech. First-time retail brand, put it down." Focus that, take that money, and be able to pay each one of the people that you're hiring to work in your store an additional couple dollars an hour more because that is gonna go so much farther…” - Libby
• {00:32:39} - “Inevitably, if you're gonna build a physical location, you want to do more than just sell things. You want to connect. You want to connect with the customer. You want to build brand affinity. You want to teach them something about your product that they didn't already know.” - Rebekah
• {00:34:57} - “It is about leaving a lasting brand impression and helping the customer discover something about the brand or the product even if they don't actually buy today.” - Libby
• {00:45:18} - “Brands are looking for ways to really connect with a customer and give them something that they can't get somewhere else, like with a competitor.” - Rebekah
• {00:51:11} - “Typically, we say, the first 7 to 10 stores go where your customers are. Then after that, after you've established that foundation and that base, then go where the people are who you want to be your customers.” - Libby

Associated Links:

• Learn more about Rekon Retail and Rebekah Kondrat and Libby Shani
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