It’s clear that the retail industry is changing exponentially and retailers in every sector are scrambling to adjust. But there’s nothing new about change. In fact, it has been said that it’s not the strongest of the species that will survive, nor the most intelligent, but rather those most responsive to change.
As technologies evolve, we must alter our approach; we must understand that mobile is retail’s new storefront and e-commerce is the portal to the in-store experience. However, the most telling change that retailers must adjust to is not technology, but rather customer behavior. Customer behavior has changed forever, and retailers must embrace new channels and changing lifestyles.
As analysts the world over try to understand changing behaviors, Google has introduced us to a new phrase, “micro moments.” We have become creatures of the moment, and mobile devices have led us there. In the past, a morning commute on the subway featured a train load of passengers with their faces buried in the morning tabloids. The news, however, was hours old.
Today as the early train ambles on to the city hub, morning riders are consumed by their smartphones, checking for real-time news, weather, sports, stock market reports, time checks, weekend escapes, movie schedules, the latest sales from their favorite stores – chatting, texting, and all things social media. We are now in the moment.
And as we come to grips with changing lifestyles, Google reminds us to understand that micro moments occur when people turn to a mobile device to help satisfy a need. These are decisive times when determinations are made and preferences are formulated, and these critical moments are changing the retail formula. Micro moments can occur at any time, whenever people act on a need. Today’s needs aren't reserved only to a new pair of shoes or a hot pair of jeans. Rather, today’s shopper has a need to learn, a need to participate, a need to travel and a need to buy.
Even the new shopping cycle is made up of micro moments as people everywhere are trying to satisfy their cravings and make the most of every second. Understanding the needs of the customer is becoming the hallmark of successful retail and empathetic customer relationships. To empathize with your customer, begin by understanding their wants and desires, and recognize their problems and pains.
When people groggily wake up in the morning to brew a cup of coffee, toast a slice of bread or scramble some eggs, they are consumers. When they wake up in the morning, and they're low on coffee and out of eggs, they become shoppers and customers. They're in the moment, and they're going to act on a need. That’s when desire and emotion take over; they are the sparks. And that’s when opportunities arise to connect with customers and shatter their expectations.
Eric Feigenbaum is a recognized leader in the visual merchandising and store design industries with both domestic and international design experience. He served as corporate director of visual merchandising for Stern’s Department Store, a division of Federated Department Stores, from 1986 to 1995. After Stern’s, he assumed the position of director of visual merchandising for WalkerGroup/CNI, an architectural design firm in New York City. Feigenbaum was also an adjunct professor of Store Design at the Fashion Institute of Technology and formerly served as the chair of the Visual Merchandising Department at LIM College (New York) from 2000 to 2015. In addition to being the Editorial Advisor/New York Editor of VMSD magazine, Eric is also a founding member of PAVE (A Partnership for Planning and Visual Education). Currently, he is also president and director of creative services for his own retail design company, Embrace Design.