How To Get People To Spend More At Retail

DAVID DEWOLF, 3PILLAR GLOBAL | January 15, 2019

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People opened up their wallets during 2018’s holiday season. From Dec. 1-24, U.S. retail sales reached $850 billion, seeing the strongest growth in six years.In an admittedly volatile but nonetheless increasingly robust economy, the big question for retailers is no longer whether willing spenders exist, but how to ensure they capture their fair share of spend. It is more important than ever for retailers to keep their customers’ wants and needs in mind. Black Friday saw a record $6.2 billion in sales through digital channels, over 23 percent higher than 2017. Every retailer — from nationwide big-box stores to the Main Street appliance shop — can use digital products to do this. Businesses need to think outside the box (big or otherwise) when it comes to digital experiences. Apps and websites can do much more than just showcase products. Retail is a tough business, and it’s survival of the fittest. The ones who survive will be the ones who offer their customers robust digital products that complement and enhance in-store experiences, not just provide one more channel for a customer to buy.

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