What some stores make consumers want to buy all their products it is a truism; what is not so clear is how they manage to achieve it. The book "Why some stores sell and others not in the digital age" by Luis Lara and Jorge Mas reveals the keys to success or failure based on the fact that 80% of the stores that open each year end up closed in a term of five. Lara and Mas thus collect "the keys that merchants must touch" in order to achieve success based on the concept of what they call "7 P": plaza (location), product, personnel, process, price, promotion and positioning. In this line, they highlight "the increasingly important importance of the space in which the store is located, the importance of having a product or service increasingly innovative or differentiated, the key to having well-trained and motivated staff; the need to have simple processes to facilitate the shopping experience and encourage its expansion; the importance of the price and its fixation and finally, how to promote and position our business ».
In short, the key to attracting the consumer of the future is thus to find a "value plus" product, that is, items for which the customer agrees to pay an extra for what the product and its brand values bring. «Clients, above all, will insist on a series of attributes associated with the values they represent. We think that sustainability is clearly one of them ". In this way, differentiation becomes a basic ingredient that allows to obtain a greater gross margin thanks to the fixing of a higher sale price.
Another of the great future trends lies in the omnichannel, that is, in moving correctly in both the physical and the virtual. In order to achieve integration, companies will no longer be able to differentiate between channels since the clients will not accept different treatments or prices. "Companies will only talk about sales that may have their origin and finish off in both physical and digital," argue Lara and Mas. These authors also do not believe that physical stores will disappear. On the one hand, they will become establishments in which an "impeccable" service will be offered, in which no queues will be accepted, nor will there be no size or order in the placement of the products. On the other, the new premises will be transformed into delivery points, delivery and returns.
For the authors, China is "the nursery of all digital trends" and also "trends on logistics agility between consumer and business." This is due, in part, to the fact that big e-commerce giants such as Alibaba and JD.com opt for "retail 4.0", which implies a true integration of physical and online platforms while enhancing the shopping experience with festivals, ephemeral stores. "At the same time, many smaller points of sale are opening where the key is proximity and closeness to digital customers," Lara and Mas explain.
Some examples of success
The work "Why some stores sell and others not in the digital age" by Luis Lara and Jorge Mas also cite some cases of companies that stand out for their sales and the differentiation of their brands compared to the rest. Among these companies, we select the following: