Phygital. Return to basic principals

As we begin this new decade of 2020, retailers’ digital strategies are returning to basic principles. From 2010 we’ve seen screens and kiosks mushrooming in stores but deserted by customers, as if ‘omnichannel’ means offering a website in store. We’ve seen wireless ‘Beacons’, which were supposed to respond to smartphones with personalised promotions. These failed to generate revenue or return on investment. We note that augmented and virtual reality experiences are offered by luxury retailers. The range of disposable technology is very wide. However, the critical question remains. How can retailers use digital to balance the books? Store turnover is historically lower by up to 20% against increased costs,…