Deloitte Store 3.0™Store 3.0™ is the retail store of the future. |
The retail environment is changing rapidly.
In the last several years, consumer adoption of emerging technologies has dramatically changed shoppers’ behaviors. While the store experience will remain important for many shoppers,it’s a far cry from the role it once enjoyed when a physical store was the only place where a merchant and customer could connect.
Store 3.0 is an evolution, not a destination that draws on a retailer’s unique strategy and vision to chart a path for how to remain relevant in a constantly changing retail environment.
Stores are now becoming just one part of a larger, more connected customer experience. And retailers are struggling with how to remain relevant as environmental and societal pressures force them to rethink their operating model.
With these sizeable shifts in the retail landscape, traditional retailers are finding it harder to keep pace with evolving consumer attitudes and expectations — and may not have time to catch up. They have come to a crossroads where they need to rethink how they can transform their stores, strategies, and operating models into a store of tomorrow — a Store 3.0™ — to attract the loyalty and larger share of wallet of customers.
The future is here. Do you have an executable strategy?
Store 3.0™
Evolving to a Store 3.0™ environment can entail reexamining and reconfiguring talent, the physical space, and store operations to meet or exceed customer expectations. A strategy that aligns these dimensions and is enabled by the right technology solutions can help retailers deliver a tailored experience for their customers.
Do you have the right talent in place?
Sales associates are critical to delivering a consistently strong customer experience in the store, creating competitive differentiation, and driving customer loyalty.
Should you consider a new footprint?
The brick-and-mortar store will continue to evolve. Store footprints will likely become smaller, stores within a store may replace conventional departments, and many retailers may reduce store counts.
Should you consider mobile POS, interactive mirrors or social media shopping insights?
As technology evolves, retailers should continually evaluate their in-store processes and how technology can improve customer experience or engagement.
Featured insights
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The Next Evolution: Store 3.0™ This report explores how retail executives are thinking about how to stay relevant in a rapidly changing environment characterized by technological advancements and evolving consumer behaviors. |
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Store 3.0™ Overview Deloitte’s Store 3.0™ provides an innovative, holistic approach to help retailers develop and realize a future-store vision. It will also assist retailers in executing a roadmap to drive customer experience, competitive differentiation, and advanced operational effectiveness. |
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The store is dead. Long live the store By starting with a smart store strategy and following through with the right talent, physical space, processes and technology, retailers can work toward building the store that will attract the loyalty and wallet of tomorrow’s tough customers. |
Related challenges
Talent:
- The changing consumer and the workforce imperative
- Diversity as an engine of innovation
- Is front-line diversity in retail enough?
- The retail talent marketplace
Processes:
- Next in line: Can mobile technologies transform the in-store checkout process?
- Cell me the money: Unlocking the value in the mobile payment ecosystem
Physical Space:
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