Gone are the days of customers visiting you, face-to-face, to browse or seek your service. Today's savvy shoppers want it all--the convenience of online shopping and the thrill of an in-store experience--and that's where the evolution of “click and mortar” businesses come in.
In case you’re wondering if this guide is helpful for your business let us tell you that over 73% of shoppers favor using multiple channels for shopping.1
Let’s take a closer look to understand the click and mortar business model, and why it makes sense for both customers and businesses.
In this guide, we’ll cover the following:
- What is a Click and Mortar Business?
- The Rise of the Phygital Customer
- Advantages of the Click and Mortar Strategy for Your Retail Business
- Strategies for Small Businesses to Implement Click-and-Mortar
What is a Click and Mortar Business?
A click and mortar business, also known as a brick-and-click or omnichannel business, is a retail model that combines an online presence (click) with physical retail locations (mortar). This approach allows customers to shop and interact with the store and/or brand through multiple touchpoints, providing a seamless and personalized experience.
The Rise of the Phygital Customer
‘Phygital’ (/’fi-g-ee-tal/) a blend of physical and digital) refers to the seamless integration of online and offline experiences, creating a cohesive and immersive customer journey. Shoppers might research a product online, then head to the store to see it in person before making a purchase. Or they might browse in-store, then check competitor pricing online before buying. For example, a customer walks into a furniture store to buy a couch. They end up testing the couch by sitting on it but decide to go home and make the purchase online hoping to get a better discount or explore other options for purchasing and shipping the piece.
Advantages of the Click and Mortar Strategy for Your Retail Business
1. Expanded Customer Reach
By operating both online and offline channels, seamlessly, click and mortar businesses can cater to a broader customer base. While some consumers prefer the convenience of online shopping, others still value the in-person experience of visiting a physical store and some like to do both. Some may prefer browsing or buying online but make returns or exchanges in-person. This omnichannel approach ensures that businesses can reach and serve customers with diverse preferences.
2. Enhanced Customer Experience
Click and mortar businesses offer customers the flexibility to choose how they want to shop and interact with a brand. Customers can browse and research products online, visit the physical store to see and touch the merchandise, and even opt for convenient options like buy online, pick up in-store (BOPIS) or curbside pickup. This level of convenience and personalization can increase customer satisfaction and loyalty.
3. Inventory Management Efficiency
By integrating their online and offline operations, click and mortar businesses can streamline inventory management. Real-time data synchronization allows businesses to track and manage inventory levels across all channels, reducing the risk of overselling or understocking. Such efficiency can increase cost savings and improve profitability.
4. Data-Driven Insights
Click and mortar businesses have access to a wealth of customer data from both online and offline interactions. This data can provide valuable insights into customer behaviour, preferences, and purchasing patterns. By leveraging this information, businesses can make informed decisions about product assortment and marketing strategies.
10 Strategies for Small Businesses to Implement Click-and-Mortar
A study conducted by KPMG2 found that 67% of Canadians prefer to shop in-person, but the in-store selection and merchandise just doesn’t compare to what is available online. The study also found out that two-thirds of Canadians think retailers need to think outside the box to replicate the in-store experience online.
Small businesses face constant competition from online giants and the need to adapt to changing consumer preferences.
Here are some effective strategies to leverage the click-and-mortar model for your small business:
-
Develop a user-friendly e-commerce website: Invest in a well-designed, mobile-optimized website that offers a seamless shopping experience.
-
Choose a robust Point-of-Sale (POS) system: Opt for an all-in-one POS system that integrates with the online store for seamless inventory management and processing payments across online and in-store channels.
-
Offer perks and incentives: Provide free, secure Wi-Fi in the physical store with easy access and value-added services. Create a branded mobile app with personalized offers and deals to collect points, that can be redeemed in-store or online.
-
Leverage social media: Use social media platforms to engage with customers, showcase products, and drive traffic to both online and offline channels. Respond to customer questions and feedback in a timely, authentic, and personalized manner.
-
Optimize for local search: Ensure your business is easily found by local customers through Google My Business listings, local directories, and location-specific content.
-
Offer in-store pickup and returns: Provide convenient options like buy online pick up in-store (BOPIS) and easy returns to enhance the customer experience and drive foot traffic to physical stores.
-
Utilize digital signage: Implement digital signage in-store to showcase promotions, events, and personalized recommendations, encouraging customers to engage with your brand both online and offline.
-
Provide exceptional in-store experiences: Train staff to deliver excellent customer service, maintain a clean and inviting store environment, and offer exclusive in-store offers to create a memorable shopping experience.
-
Enhance in-store experience with technology: Embrace the future, and if it makes sense for your business, implement things like interactive digital displays, augmented reality, and even virtual try-on technology if applicable to engage customers. Use NFC tags and QR codes to provide instant access to product information, reviews, and recommendations.
-
Implement a customer loyalty program: Reward loyal customers with exclusive discounts, early access to sales, or special events to encourage repeat business and word-of-mouth referrals.
The click and mortar business model is a strategic approach to meeting the evolving needs of modern consumers. By combining the convenience of online shopping with the tangible experience of physical stores, businesses can offer a seamless and personalized shopping experience to their customers.
Ready to embrace the future of retail? Get started with Moneris Go Retail POS system.
Article filed under:
growth strategiesShare
