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Instore Services and Events in Global Retailing

Verdict Research Ltd
May 20, 2011
76 Pages - SKU: VERA6385222

Abstract Table of Contents Search inside this report Related Reports

Countries covered: Global

Introduction

Specialist retail stores are increasingly faced with competition from the online retail channel as well as supermarkets and other non-specialists. This has renewed the emphasis on attracting shoppers by providing entertainment and advice. This report outlines the key drivers behind such a strategy as well as providing inspiration and advice for retailers hoping to create instore destinations.

Features and benefits

Glean ideas for your retail business by uncovering innovative examples of instore services and events taking place across all retail sectors.
Benchmark your instore services and events against competitors by discovering the key trends within your sector.
Discover how to differentiate your retail business by offering instore services and events beyond the norm in your retail sector.
Futureproof your instore investments by uncovering they type of sevrices and events that will be important going forward.
Identify which retailers are offering more services and events for their customers and provide them with assistance.

Highlights

By offering enhanced services and events in their stores retailers can enhance sales by; instilling customers with the confidence to buy and use certain products, engendering lifelong loyalty in their retail brand and differentiating themselves from retail competitors, especially those online.

Across all core sectors, DIY and electrical retailers have made the most innovative steps towards engaging with children. Specifically this has included children's home improvement workshops, summer camps and operating as a destination for school trips. Best practice examples include Apple, B&Q in the UK, and Bunnings Warehouse in Australia.

Grocers should strive to deliver unique services that act as a differentiator for consumers. This may include targeting neglected consumer segments such as the elderly by providing free large-print prescriptions and recipe cards, and foreign language consumers, by improving awareness of multi-lingual staff.

Your key questions answered

What services are being adopted by grocery, clothing, health and beauty, entertainment, electronics and DIY retailers in key global markets?
How have retailers across the world implemented services such as shoe and bra fitting, DIY and cooking workshops and technology training?
How have retailers created a sense of theatre by providing events such as creative writing lessons, celebrity meet and greets and clothes swaps?
Why have retailers in sectors such as grocery, apparel, and health and beauty, felt motivated to offer instore services?
Which services and events will be important for the retail sector in the future?

OVERVIEW: About the series; Summary
STRATEGIC RECOMMENDATIONS: Grocery; Clothing; Health and beauty; Entertainment; Electricals; DIY
SUMMARY: Retailers have implemented a diverse range of instore events and services
STRATEGY IN CONTEXT: Retailers now offer a variety of innovative services and events; A range of factors drive retailers to offer instore services and events; The implementation of instore services and events requires careful consideration
STRATEGY IN FOCUS: GROCERY: Store-based competitors are the main threat to grocery retailers; The presence of a diverse range of services has become the norm in mature countries; Services that provide convenience are fundamental to grocers retaining their market share; Events that educate boost consumer product confidence; Instore events can be used to deliver entertaining experiences that engender loyalty
STRATEGY IN FOCUS: CLOTHING: The greatest challenge to specialist clothing retailers comes from value players; Department stores offer the most services, followed by flagship stores; Instore strategies that enhance customer experiences are crucial to clothing retailers; Instore events can transform retail sites into entertainment and leisure destinations; Instore activities that deliver expertise enhance consumer confidence in a retailer
STRATEGY IN FOCUS: HEALTH AND BEAUTY: Grocery retailers provide the greatest threat to health and beauty retailers’ market share; Service diversification has become increasingly necessary for health and beauty retailers; Services that enhance convenience are vital in challenging non-specialist retailers; Advisory-based services are key to distinguishing specialists from their competitors; Advisory and practical services can create a superior customer experience; Health and beauty retailers can become entertainment destinations through their services
STRATEGY IN FOCUS: ENTERTAINMENT: The threats to entertainment specialists are diverse and complex; Entertainment retailers' standard instore services and events are vital; Entertainment retailers tackle their competitors by becoming entertainment and leisure hubs
STRATEGY IN FOCUS: ELECTRICALS: Electricals specialists are under threat from the encroachment of online retailers and grocers; Recent years have witnessed impressive enhancements on the standard services offered; Product education and superior service go hand-in-hand for electronics retailers; Electricals retailers offer a range of imaginative services that increase their convenience; Electricals retailers use store events to transform themselves into leisure destinations
STRATEGY IN FOCUS: DIY: The greatest threat to DIY retailers is from the recession curbing customer spending; An impressive range of services have emerged among DIY retailers in recent years; DIY retailers have evolved innovative services and events for delivering product education; Modern DIY retailers' instore services and events deliver superior customer service; DIY stores have taken unique steps to convert themselves into leisure destinations for kids
THE FUTURE OF INSTORE SERVICES AND EVENTS: Grocery retailers must address the needs of both hypermarket and convenience store consumers; Clothing retailers will introduce more store services as standard; Health and beauty retailers must focus on delivering entertainment; Entertainment retailers must introduce niche store services to engender consumer loyalty; Electricals retailers will offer services that target specific consumer segments; DIY will increase the range of environmental services that they provide
APPENDIX: Further reading; Global Retail FreeView; Ask the analyst; Verdict consulting; Disclaimer

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