Between the rise of ecommerce and consumers’ growing digital presence, the shopping experience is constantly in flux. But even as our lives become increasingly digital, in-store shopping is still the preferred purchasing method for consumers. Despite the seeming ubiquity of ecommerce giants like Amazon, a staggering 90% of retail sales still happen in brick-and-mortar stores—especially when it comes to daily necessities like groceries and cleaning supplies. It makes sense. No one wants to purchase unseen fish or squeezed produce. Shopping exclusively online can’t replace the experience of inspecting an apple for bruises or gauging a pear’s ripeness. There’s another simple fact: grocery delivery is expensive.
Although most purchases ultimately take place on-site, the shopping journey often begins long before that, with the customer spending their downtime exploring options on their mobile devices. With a sophisticated digital platform or app, brick-and-mortar retailers can engage customers at this early stage, and maintain that engagement through every subsequent touchpoint of the shopping journey. Pair that robust app or platform with a digital retail media network, and brick-and-mortar stores can take advantage of a whole new revenue stream, all while evolving to meet changing customer behavior.
While big players like Amazon and Walmart have already capitalized on these trends, it’s not too late for you to walk away with a chunk of the billions in digital ad dollars up for grabs—but you do have to move quickly. In order to stay competitive, retailers need to offer a holistic customer experience, connecting digital to in-store and increasing in-store sales while accessing actionable data in the process. Fortunately, Swiftly is a solution enabling retailers to do just that. In fact, it’s the only solution positioned to deliver a comprehensive digital retail media network. Let’s take a look at how:
● Render bolt-on solutions obsolete. One-way retailers have tried to update their online presence is by cobbling together a Frankenstein’s monster of bolt-on digital ad solutions. Often, this comes in the form of third-party agencies indiscriminately slapping banner ads or coupons on your site without any real strategy for measuring their effectiveness. Meanwhile, the valuable data collected by that third party is inaccessible to the establishment that would benefit from it the most: you, the retailer.
Swiftly provides much-needed transparency to both retailers and brand partners, by providing you with first-party data and serving each customer a personalized ad experience based on their shopping trends. With Swiftly in place, your Consumer Packaged Good (CPG) partners can access precise ROAS on their spend, and incentivize shoppers to bring bigger baskets to the checkout thanks to sophisticated ad experiences presenting the right product, to the right customer, at the right time. Put simply? Everybody wins.
● Access a new revenue stream. Swiftly can help retailers access new revenue streams by building an intelligent retail media network that delivers digital ad sales dollars to traditional brick and mortar stores. In an age of historically slim margins, retailers would be foolish not to take advantage of new revenue streams, especially when CPG digital ad spending is expected to grow 16% in 2021, totaling over $22.5 billion. A new revenue stream enables retailers to not only expand their margins, but to invest newfound funds in other operational improvements while keeping pricing competitive.
● Evolve in lockstep with changing customer behavior. In-store and online shopping aren’t mutually exclusive experiences, nor should they be treated as such. The modern shopping journey is a hybrid of the two experiences, and retailers need to engage the shopper in both arenas. Only Swiftly is equipped to offer retailers a holistic shopping experience meeting customers exactly where they are—whether it’s in the store or online. The solution is unique in offering retailers closed loop engagement and access to first-party data to drive a stronger understanding of their customers’ shopping habits, and then tailor digital ads and coupons to their individual needs. You own all the purchase data generated when an item is scanned at checkout, as well as the data pertaining to each customer’s personal history on your app or platform.
● Challenge the dominance of Amazon and Walmart. Far too often, traditional brick and mortar retailers look at Amazon or Walmart’s huge ad dollar market share, throw up their hands, and assume they can’t compete with established giants. Nothing could be further from the truth. With ad dollars on the rise, there’s no reason your retailer shouldn’t be able to compete with the larger corporations. The only caveat is that retailers should act quickly, lest they leave valuable ad dollar revenue on the table. Only Swiftly is equipped to revamp—or quickly implement—a digital platform and retail media network in a timely manner, allowing you to grab your market share of digital ad dollars as soon as possible.
Changes in customer behavior may be confusing or intimidating, especially to traditional retailers unsure of how to keep up—or stay afloat—in a constantly evolving retail landscape. As the relationship between in-store and online shopping becomes increasingly symbiotic, Swiftly offers a solution for retailers afraid they’ve been left behind—and helps bring them ahead. To learn more about how Swiftly can create a native experience that generates new retail revenue, get in touch today.