Expanding retail establishments based on consumer needs
Ideoli understands the concepts of development and change. And more importantly, Ideoli understands the “Expanding Retail Establishments Based on Consumer Needs” But to understand the complicated steps, we have to understand where we’re going and the reasons for the changes.
According to “Store Development is Becoming More Complex,” by Jason Schwab, “Succeeding now requires a strong background in experience design and product management. Product management is the new ‘product’ of retail.” Schwab also stressed the instability of “store development, design & construction.”
With these instabilities, Ideoli understands that those in the retail industry need a jack of all trades skillset. Retail is not what it used to be. Instead of brick and mortar establishments, more stores have become online retailers. With products being available online, or at their fingertips – consumers expect faster results. With e-commerce at the fore-front, more retail warehouses were built while traditional stores closed.
Ideoli understands that as with any product, the consumer must be understood. And the latest resources encourage consumers to educate themselves. Retailers were becoming required, by consumer needs, to be on the cutting edge. More specifically, retailers found their place online as much as in traditional commercials and printed media advertising their products. To stay current, retailers needed to reach consumers through store websites and Apps.
And change was not only seen in the digital side, but costs were rising in non-traditional areas of business. In regards to construction, the lack of workers going into trades have made an impact on retail. With that, “Finding quality subcontractors is even harder,” according to a RetailSpace attendee in Schwab’s article.
Real estate also caused its share of troubles to retail. From increased rent, to zoning, to affordable building layouts and locations – retailers have seen their share of hindrances in the business.
Unique problems such as competing with recession reputations has been a problem with today’s retailers. Though some brands fell in the recession, their names or identities have stuck with them and retailers fear giving them another chance.
Ideoli understands investing in technology. We understand that technology is key in today’s business, keeping the line of communication open to consumers. But we also understand the need to balance investments in that part of business and not wasting money on those insufficient technologies.
Another balancing act in business that Schwab mentions in his article is the concept of pop-ups. This corresponds with the technology investment in that consumers today have shorter attention spans. Due to technology – e-commerce, for instance, with a click a product is purchased. Like that quick purchase, and pretty quick delivery, we see consumers thriving in pop-up-type retail opportunities.
Ideoli understands how all of these concepts of development and change have become what current business looks like today. We appreciate the reasons for change and encourage it in the concepts that we take on to make Ideoli what it is today.
Ideoli understands and discusses the “Expanding Retail Establishments Based on Consumer Needs.” The following concepts are discussed:
* The retailers’ need for a jack of all trades skillset
* From brick and mortar establishments to e-commerce
* More retail warehouses built while traditional stores closed
* Consumers educating themselves
* Retailers connecting on websites and Apps
* Lack of construction trades effected retail
* Real estate challenges
* Recession Reputations
* Balancing technology needs
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