Retail As A Connected Economy
Point of Purchase|July 2020
The current pandemic has created strategic opportunities in the true sense, and brands and retailers can make the most of this opportunity by positioning themselves as a connected economy, says Jalpa Patel – Lead Interior Architect and Sr.Visual Merchandiser, ZenGenius Inc, while drawing on interesting examples from the US.
Jalpa Patel

What is the definition of connected economy in retail?

It is an economy that places more value in meaningful experiences with a focus on authentic human connection, supported by revolutionary new technologies that allow consumers greater access than ever before.

Why is this connected economy so relevant in the post pandemic retail world?

The answer is the changing consumer behavior. Consumers are craving meaning and purpose in everything they do and are also becoming accustomed to conveniences, due to the social distancing guidelines. They are overwhelmed with uncertainty, and are looking at retail brands to provide safety, inspiration and optimism.

What the aspects of connected economy?

The four pillars that are anchoring the connected economy in the post pandemic retail world are:

1. Meaning Experiences

2. Expected Convenience

3. Responsible Social Engagement

4. Authentic Accountability

Meaningful Experiences

Activations that are driven by meaning, authenticity, and connection will stick. Retailers will have to take some calculated risks to receive assuring rewards later. In the US, Easton Town Centre, a Columbus, Ohio based retail mall developer, converted their empty parking spots into a drivethrough movie theatre experience, following the social distancing guidelines. The first weekend they launched their concept, they were completely booked and the tickets were sold out in 15 minutes.

Similarly, Cleveland Metroparks Zoo announced the “Cruise the Zoo” concept presented by Dollar Bank, which offered guests a chance to visit the animals of the Zoo from the safety of their vehicle. Guests could bring in their own food and drinks and listen to an audio tour of the zoo while they drive through. In addition to the animals, superheroes and princesses could be seen throughout the park to entertain the guests as they drove past. Personalized and customized experiences will mean more than blanket messages to the mass audience.

Expected Convenience

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