Over the last year or two, we have seen gamification and digital assets such as NFT’s skyrocket in growth.
Now, the retail industry is using gamification and digital trends to help build customer loyalty and increase the customer experience.
This week we talk about how brick-and-mortar stores are using touches of digital to enhance the physical experience in-store.
THIS WEEK’S HIGHLIGHTS
- January in the furniture industry: How the furniture industry increased average ticket by 4%.
- January in the mattress industry: Less time spent with customers, higher average ticket, and higher daily revenue.
Q4 Benchmark Report: Click HERE to see how your store compares to the industry average.
FOOT TRAFFIC TRENDS
Industry insights so you can convert your foot traffic into more sales.
NFT Gamification meets brick and mortar
Non-fungible tokens (NFTs) are providing more value and utility than simple collectibles, and the retail industry is taking notice.
Not only can gamification and NFT’s help reach the younger generation and digital natives, but they can also help build customer loyalty and increase the customer experience.
Using metaverses and NFTs to make digital duplicates of real-world SKUs and establishing stores in the metaverse, enables retailers to engage directly with their customers, as well as enhance and personalize their shopping experiences.
Walmart is experimenting with shopping in the metaverse as a good opportunity to get ahead in its industry and take control of this growing market in the near future.
Click HERE to learn more about NFT and gamification in retail.
Gap lends a helping hand to smaller retailers
Gap’s logistics business will team with UPS unit Ware2Go to offer small shippers access to fulfillment and distribution services.
As Gap explains, access to this level of supply chain capabilities was “previously only available to billion-dollar brands”.
Through the service, businesses can utilize Gap’s network to provide one-day click-to-door fulfillment to customers. They can also get a more accurate look at their inventory levels and delivery times.
Beyond small businesses, the service is also targeted at international companies that want to expand into the U.S. without investing in fulfillment infrastructure.
Going forward, Gap plans to focus its $700 million capital expenditure budget around supply chain and technology projects to improve automation, speed, and efficiency.
Personalization: Networking and personalization to rule the retail industry in 2023.
Growing pains: Struggling Bed Bath & Beyond closing 150 more stores.
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Lock and key: Netflix says it ‘updated’ new password-sharing policies that had users melting down.