Understanding in-store dynamics is crucial for brands aiming to maximize sales and forge deeper connections with consumers in the ever-evolving retail sector. The retail landscape of 2024 is marked by significant e-commerce penetration, shifting consumer preferences, and economic challenges. Amidst these changes, insights from our survey of 500 sales associates across North America reveal key trends that can help brands enhance their in-store presence and sales strategies.
Survey Results: Decoding the In-Store Experience
Our survey highlights that 60% of sales associates observed customers only sometimes or rarely enter the store with a specific brand in mind. This underscores the importance of having a strong in-store presence. Brands that lack visibility in physical stores miss out on engaging these undecided shoppers, thus losing potential sales.
For example, Nike, after initially overemphasizing its direct-to-consumer channels, has acknowledged the importance of wholesale partnerships for in-store visibility. Nike’s renewed focus on retail partners aims to engage customers who make purchasing decisions on the spot. This shift highlights a critical strategy for brands looking to enhance their visibility and boost sales in physical outlets.
Addressing Customer Concerns
The survey reveals that while price is a primary concern among customers, quality and durability follow closely. This indicates that customers are looking for value and not just the lowest price. Brands need to empower their sales associates with detailed product knowledge so they can address these concerns effectively, thus enhancing the customer shopping experience and fostering loyalty.
With about 45,000 retail store closures anticipated in the U.S. by 2028, the industry is undeniably facing challenges. However, this also presents an opportunity for brands to refine their strategies. Digital tools and educational resources for sales associates can play a pivotal role in maintaining a stable and informed workforce ready to adapt to industry shifts.
The Role of ENDVR in Transforming Retail
ENDVR is revolutionizing the way brands engage with their in-store sales associates and, by extension, with their customers. Leveraging tools like ENDVR can significantly enhance job satisfaction by providing sales incentives and training. This not only boosts sales performance but also reduces employee turnover.
Our findings show a positive correlation between the use of apps like ENDVR and employee satisfaction regarding compensation. Tools like ENDVR play a crucial role in this area by providing digital training, sales incentives, and rewards that enhance job satisfaction and performance, as a staggering 95.8% of associates acknowledge the positive impact of the ENDVR app on their compensation and overall job satisfaction, that, ultimately, improves sales performance and reduction of employee turnover.
Next Steps for Brands
To navigate retail changes effectively, brands must prioritize a robust in-store presence, equip their staff with the necessary tools and knowledge, and embrace innovative technologies that enhance both employee performance and customer satisfaction.
We invite you to delve deeper into our findings and discover more actionable strategies by accessing our exclusive Data Report including insights from Matt Powell & ENDVR’s Fireside Chat. This report is designed to provide you with a richer understanding of the current retail environment and emerging trends.
To see firsthand how ENDVR can revolutionize your retail operations, explore how ENDVR retail sales enablement platform empowers sales associates and enhances the shopping experience, driving performance and satisfaction across the board.
