Everything You Need To Know About The Phygital Shopping Revolution

Consumers are a scrappy, resilient bunch. As the COVID-19 pandemic raged worldwide, shoppers learned to make the best of a difficult situation by shifting their shopping experiences to digital channels. This migration resulted in almost immediate developments in tech like Buy-Online-Pick-Up-In-Store (BOPIS), curbside pickup, grocery delivery, and various other blended conveniences — all of which work to integrate digital convenience into the physical shopping experience. Are marketers meeting shoppers’ phygital needs? Yes and no. 

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Are You Getting the Most from Your Rx Returns Policies?

We all know how last-mile Rx returns management can impact profitability. Maximizing value is tricky, especially when returns are at high volume. Are you doing enough? Here are some key questions you need to ask yourself about your Rx returns strategies. 

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RETURN TO SPLENDOR: HOW DATA-DRIVEN RETURN STRATEGIES INCREASE PROFITS AND IMPROVE THE CUSTOMER EXPERIENCE

Original published in Retail Dive: https://www.retaildive.com/spons/return-to-splendor/609800/   Peak selling season is right around the corner, and supply chains across the globe continue to face unprecedented challenges — material shortages, insufficient labor pools, and transportation inconsistencies, just to name a few. While demand for goods may be high, limited supply could push prices up and total sales volume down. As a result, retailers need to ensure they protect margins on every order. 

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SHOPPING GOES PHYGITAL — WHAT YOU NEED TO KNOW ABOUT THE CROSS-CHANNEL CONSUMER

Nobody expected the transition to come this quickly. Thanks to the COVID-19 pandemic, a behavioral shift that should have taken a decade, or more, occurred within weeks. Consumers were suddenly forced to shop in new ways, and rely on digital channels that, in many cases, didn’t even exist before COVID. Regardless of how or why it happened, one thing’s for sure — shoppers have grown to like this new hybrid shopping. A lot. 

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BRANDS CAN NOW PICK FROM A POOL OF RETAILER-SELECTED INFLUENCERS

For a long time, brands and retailers have been focused on being at the right place at the right time along the shopper journey. This essentially meant being prepared for the shopper to interact with pre-prepared media, displays, messaging, and so on.  Now, instead of “right place, right time,” success relies on being everywhere, all the time. Prospective customers are hopping across digital and physical channels, connecting with several touchpoints before making a final purchase decision. 

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SOCIAL COMMERCE CAN GIVE CONSUMERS THE SIMPLE SHOPPING THEY’RE LOOKING FOR.

Regardless of where they shop online, consumers consistently rank one thing as the most important — convenience. In fact, data shows cart abandonment rates can skyrocket to 80% when there are too many steps, clicks or pages. Done right, social shopping features — like add-to-cart, shoppable live streams, buying recommendations, and influencer integrations — make browsing and purchasing easy for consumers.

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NEW TO NIL? YOU’RE NOT ALONE. HERE’S YOUR GUIDE TO STUDENT-ATHLETE INFLUENCERS.

There’s a new opportunity in the influencer marketing world, thanks to student-athlete Name, Image, and Likeness (NIL) rule changes. Collegiate sports stars — and stars to be — may now promote businesses in exchange for product or monetary compensation. 

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GET IN THE NIL GAME

For the first time in the history of collegiate athletics, student-athletes now have the ability to monetize their name, image and likeness (NIL) across all sports and divisions. Rule changes enacted this year allow them to engage with brands and retailers for sponsorship opportunities — including product endorsements on social media, events and personal appearances, and more.

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Their New Year's Resolutions — Your Opportunity

81% of consumers plan to make New Year’s resolutions. That’s a huge opportunity for marketers to encourage, inspire, and support shoppers’ goals with products and services.  To help jumpstart your preparation for marketing around these resolutions, we’ve leveraged a variety of data sources to better understand lifestyle trends that could impact consumer purchasing decisions.  Shoppers’ 2021 resolutions were primarily related to the following categories:

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