The Basics of Phygital Retail Experience: A Beginner’s Guide!

Who would disagree that consumer requirements are dynamically changing! The past few years have also witnessed a massive transformation in the manner users interact, engage, consume data or make purchasing decisions. 

Yes, you’re thinking it right! 

The entire credit goes to the ‘online’ approach adopted by businesses in the race to acquire a competitive edge. As a result, the physical movement has reduced, except fingers tap on the mobile screen to order our favorite products and services. 

Another advantage of online retail is that it efficiently allowed consumers to follow the safety protocols during the COVID-19 pandemic. Now that the situation is getting back to normal, people are visiting their best-loved stores to resume a personalized experience. 

Did you notice what’s happening here?

While e-commerce continued to dominate the retail ecosystem, customers also held on to the in-store experience, emphasizing both digital and non-digital. Therefore, it has forced the retailers to build a hybrid system, a mix of physical and digital known as ‘Phygital.’ 

Have you ever heard of the term before? Maybe from here and there! 

Fortunately, we’ll be talking about the basics of this concept in detail via this article. So, are you excited? 

Phygital Retail Experience: An Attempt to Obscure the Lines Between Online and Offline!

The phygital model has become a means for businesses to offer a seamless shopping experience to their customers. 

HOW? 

You must be well familiar with your nearby stores and local vendors struggling to make their way through the pandemic. While on the other hand, large businesses and organizations managed to shift to the online approach and cater to their consumers’ needs efficiently. Thus, customers also shifted to e-commerce apps and websites for even their most basic needs, leaving local businesses to struggle during the lockdown.

The situation created a desperate need for small businesses to shift to e-commerce since all their customers were present online. Indeed, many digital tools helped store owners bring digital approaches to the brick-and-mortar stores, but at the cost of competing with the giant aggregators. Therefore, to match the market standards, start-ups introduced a mix of physical and digital models to keep up with the market. 

Why Phygital Retail for Businesses?

Building phygital models for businesses can help one skyrocket their business. To learn more, continue reading about some of its top-notch advantages: 

1. Enhanced Consumer Experience 

Offering both an online and offline experience to customers will not restrict their shopping patterns as they’ll be able to interact via any medium and across various channels. 

Not only business interaction, but phygital also provides an opportunity to select the preferred mode of payment, order fulfilment, etc. 

It won’t be wrong to mention that increased flexibility offered by businesses lead to boosted sales.  

2. Boosted Brand Awareness 

Let’s compare a business that only operates offline and another one that has a consumer base both online and offline. 

Which one is more likely to retain more customers?

Offering both will enable customers to engage with your brand in an improved manner, be it ordering via your app or talking to one of the executive face-to-face. Therefore, it’ll lead to boosted brand awareness. 

3. Personalized Recommendations 

Personalized service is one of the best strategies followed by businesses to increase customer lifetime value. Notably, the store associates are able to keep track of a consumers’ previous purchases and buying behavior to direct recommendations they might want to see. 

4. Unified Inventory Levels 

Notably, the phygital approach enables businesses to manage their online and offline business via a single platform, which further eliminates the situation of stockouts. 

For instance, Shopify enables you to monitor the amount of product available in store before you order the same. 

Top-Notch Strategies of Phygital Retail 

1. Let Your Consumers be Dominant

We meant that let your customers choose their buying pattern- online, in-store, etc. If your customers are nearby your store, they can simply collect their order, and the chances are that they might shop a few additional items leading to more sales. 

2. Amalgamate Self-Checkout 

Now, this is an exciting concept you may leverage for your customers! You may create an in-store experience that lets your customers visit the store, pick all items they want to shop and pay via self-checkout without any intervention from the human resource. 

Isn’t it the best thing for introverts?

3. AR and VR

AR and VR are the two technologies well-known for developing an immersive environment that blurs the boundaries of real and virtual. While AR enables trying products virtually, VR is an exceptional manner to let customers immerse themselves with your brand for better understanding. 

4. Integration of Social-Media 

Are you present on social media platforms like Instagram, Snapchat, Facebook, etc?

Then why not your business?

Notably, you have a much stronger chance of connecting with your potential customers via social media than any other means! Therefore, it is a great place to advertise, and you may use it as your weapon for increased awareness. 

What say?

Whether big or small, any business will have to start taking small steps in order to succeed. And phygital seems like a solid potential step before you witness your business skyrocketing. 

In a Nutshell

Now that a blend of physical and digital is moulding businesses for good, how about combining the unique element with your brick-and-mortar store?

Sounds intriguing to us! 

It’s time to stand out from the crowd and acquire a competitive edge that you’ve always deserved! 

BUT FIRST…

We have got more insights for you! To learn more, schedule your free session today.