We recently held our Retail Rocks event, with retail leaders from the likes of Clarks, HSBC, Microsoft and Aldi. This is one of our insight pieces following the event.
Being disruptive was a theme throughout the day at our Retail Rocks event. Adam Phillips and Matt Beathe from Halfords opened the day with the quote: “There is always someone that is going to disrupt you, so either be your own disruptor or be prepared for the disruption.”
Here are some of the things retailers are doing to get ahead of their competitors and disrupt their industry:
Taking services direct to customers
Halfords talked about how 80% of customers want advice or services with their purchases. So, they’re trialling a new service called Halford Mobile Expert – a new initiative which is a combo of their retail and garage services taken to the customer wherever they are. When disrupting, they said you’re best to start small and scale.
Making paying easier
Klarna, the online purchasing company, is making paying for online purchases smoother than ever. They’re doing this through allowing customers to pay by credit card, PayPal, or even in 30 days’ time. They’re also minimising the number of abandoned carts and increasing sales using tailored prompts.
Tackling Japanese knotweed
From thermal insulation and external solar shading to your remediation strategy on Japanese knotweed – if you’re buying, building or renovating a property, there are plenty ways to opportunities to get more from your capital allowances claims. To find out more get in touch with our Jeremy Chapman.
Using AI to make things more efficient
L’Oréal has created an app that allows people to see what they look like wearing L’Oréal make up – considering skin tone, contouring and lighting – before making their purchase there and then. McDonald’s have also started using voice recognition technology to help their team take orders at drive-throughs and make the customer experience better.
Sticking on the high street
This might come as a surprise. But with all the furore around retail and the state of the high street, did you know that Zara’s turnover is still roughly £34bn more than Asos’? 75% of shopping is still done in shops. So, to compete with the biggest, it might be best to ignore the high street doom and gloom and be disruptive.