The advantages of phygital retail are increasingly evident in retail. This concept links purchasing activities in physical stores with the digital connections established online. It is a powerful tool with which companies can improve their relationship with consumers and obtain a greater return on investment.
What is phygital retail?
The term phygital comes from the union of the words physical and digital. This neologism refers to a modern attitude in society in which individuals combine their presence in the real world with increasingly common online interaction.
In commerce, it refers to the combination of real-world and digital practices to optimize the buyer experience. This approach uses the best of both worlds, allowing customers to enjoy integrated shopping both in-store and online.
Technology has transformed our lives and has affected how customers consume and inform themselves about the options that the market offers them. Now, before purchasing, they access the Internet, where they review reviews and consult features of the product or services that interest them. And here’s the silver lining: Despite the challenge, this stream of connected people represents a huge opportunity for retail companies.
Phygital retail offers the possibility of establishing a unique practice by fusing the best of the traditional in-store business with the new online trend. Consumers don’t have to give up anything: they can research products online before making decisions in-store or in e-commerce. Or if they prefer, they can go to the store, touch the product try on the clothes, and then auction them off on the website.
Advantages of phygital retail
Among the benefits that this strategy provides for your business, we can highlight the following.
Increase brand recognition and trust
One of its most relevant virtues is that it helps identify and trust the brand. By engaging with products, physically and digitally, customers feel more connected and engaged with the company. This helps them receive the company better and trust its proposals.
Offers a greater variety of products
In-store storage capacity may be limited. However, by implementing the hybrid sales system, companies have the opportunity to display more items. All this without having to worry about the establishment’s restrictions.
Consequently, the possibilities for your business are multiplied: users can explore products online and later pick them up in the store. Or, conversely, review them at the store and complete the transaction on the Internet to receive them at your home. This flexibility can increase sales and improve consumer satisfaction.
Creating customer profiles by collecting data
Online operations collect a large amount of data to create user profiles, to which information obtained in stores can be added. The robust collection of attributes can be used to personalize offerings and match supply to demand. This dynamic will ensure that you have the product most appreciated by your clientele.
Improve ROI and differentiation from the competition
Another of the many advantages of phygital retail is that it can improve your company’s return on investment (ROI). By integrating the physical and cyber worlds, retail can reach more individuals.
This provides more personalized interactions, which will undoubtedly result in greater profits. Furthermore, by adopting this instrument, your brand differentiates itself from competitors that have not yet adopted the tangible-electronic approach.
To have a broader vision of these benefits and how to enhance the relationship with your clients, we invite you to read this article in our blog Phygital Experience 360 for your clients.
In conclusion, the advantages of the dual format are evident, so it is advisable to take advantage of them. By implementing this strategy, your business can improve its presence in the market and provide a superior shopping practice.
The benefits of phygital retail will continue to grow over time, with more and more customers combining physical and digital in their daily activities. Therefore, the best time to incorporate this trend into your company is now. Don’t wait any longer, and get ready to meet the demands of modern consumers looking for an enriching shopping experience.
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