How does Endless Aisle Technology grow Retail Businesses?
Customers are incredibly valuable! They are critical for every retail business expansion. Customer loyalty is enhanced when clients can swiftly purchase the desired products and have few reasons to quit the store.
With endless inventory, retail businesses will never have to say no to another customer. Customers and businesses benefit from this retail technology, which can quickly increase in-store and online retail sales.
Thanks to the Endless Aisle Solution, each consumer now has endless shopping choices and can get their desired products even if inventory is unavailable in the physical store.
Endless Aisle's importance in the retail industry
Even though eCommerce retail is booming, many customers prefer to purchase in a brick-and-mortar store where they can touch, feel the product and interact with a store representative. Endless Aisle is a true fusion of virtual technologies into the physical stores designed to provide a superior customer experience to Gen Y clients.
The biggest advantage of an Endless Aisle solution is that customers get instant access to a broader choice of products, with faster service and 24X7 availability even without the assistance of a sales associate at the busiest hours of the day, when there is a huge crowd of customers.
The solution protects the business from sales & revenue loss if a product is physically unavailable in a retail store when a customer requests it. It simplifies shopping for customers with hectic schedules by eliminating the need to rush to other stores, thereby increasing brand loyalty and customer satisfaction.
Not only that, an Endless Aisle solution can effectively roll out customized offers and personalized shopping suggestions to the customers. Retailers can analyze this information to gain valuable insights on customer shopping behaviour like purchase frequency, interests, and shopping preferences.
This strategy can help retailers reduce their in-store inventory as well as floor space requirements while boosting their overall product visibility and customer experience.
Key benefits of using Endless Aisle in retail
1) Grow higher sales
Every retail business encounters this typical situation in daily life. A customer enters a shop establishment to choose a product that fits his size, colour, and style. The salesperson informs him that the requested product with the preferable requirements is sold out and gives no clarity on when it will become available again.
The dissatisfied customer exits the store. It is a lost sales opportunity for retailers and a complete waste of customer time as it spoils their shopping experience. A study says retailers can lose nearly half of intended purchases when customers encounter stockouts.
Those abandoned purchases translate into sales losses of about 4% for a typical retailer. That could mean $40 million a year in lost sales for a billion-dollar retailer, which is a monstrous figure in the retail industry.
Now check out a technology that can compensate for the loss of sales due to stockouts or unavailable in-store inventory. The in-store sales representative quickly pops out his tablet, inquires about the customer’s product preferences and locates the product in the online store.
He assures the customer that the product is available for sure and can be shipped directly to his home address. The customer joyfully agrees and pays for the product shipped to his home address. With Endless Aisle solutions, every lost in-store sale becomes a massive opportunity to grow overall retail sales.
2) Boosts customer experience
Gone are the days of turning customers away with, “Sorry, we don’t have that in your size”, or “we sold the last one this morning.” Or "we don't know when the products will be back in stock."
Today’s customers take these words by heart and are less likely to do business with the retail store in the future if they hear the same thing again. Once a customer's shopping experience is ruined, it isn't easy to makeover the brand image quickly.
Brands employing Endless Aisle solutions turn every physical store into eCommerce sites and generate revenue from every customer visit, guaranteeing that their customers get the best of both worlds, offering a unique shopping experience for each customer visiting the retail store.
Endless Aisle solutions are a game-changer in enhancing a brand's capacity to meet a customer's demand, without making them wait. The technology ensures that all consumers' needs are addressed, and they enjoy shopping with a brand whose products are always available 24x7 for them.
3) Fun of online shopping in-store
What if a customer can enjoy online shopping with an in-store sales representative to assist you in your purchases? Well! Endless Aisle solutions let you enjoy online shopping precisely in this way.
Customers enter a retail store to shop in person but exit the store as an eCommerce platform customer. Isn’t it fun? It helps to make shopping an enjoyable experience by showcasing product attributes like reviews, videos, ratings, and recommendations on products visible on the shelves.
It helps customers shop online while walking in-store and lets your smartphone, tablet, or iPad act as a virtual shopping assistant to provide you with all the product information right at your fingertips. The customer can view the product from different angles, zoom in/out images, get verified product reviews, and more.
Such phygital shopping experiences can be a major differentiating factor in the retail industry, attracting more customers to try & enjoy the new age shopping experience, thereby multiple customer footfalls in the brick-and-mortar retail store.
4) Reduce online returns
If retail businesses are doing business through two different channels: a physical store or an online store, there is a massive difference in the return rates. Retailer research says that online retailers face a return rate of over 20%, compared to their 'brick and mortar counterparts, who have a 9% return rate.
It is evident why there is a big difference in return rates for different channels. Customers buy products from brick-and-mortar stores by actually trying the size, style & comfort of the product in fitting rooms.
The ability to try clothes on or interact with a salesperson about the product significantly reduces the likelihood of a return, but in an online store, the customer does not have any of these privileges before buying.
Endless Aisle solves this problem quite effectively by giving the buy in-store and ship-to-customer option. Shoppers can check the quality of the product online and decide if it is suitable for them so that when the order is shipped to them, it is precisely what they want.
5) Improved inventory management
Inventory management is a critical part of any business. It is essential to have the right products on hand, in the right quantities, and at the correct prices. But managing inventory can be difficult, especially for retail businesses with countless products.
Endless Aisle can help improve inventory management by making it easier to track live inventory levels and find the right products quickly. An Endless Aisle acts as a virtual shelf of the available stock and eliminates the need for every product to be available in the physical brand store.
The in-demand stock is trackable on the Endless Aisle solution app and shows product availability at different brand store locations as per the area pin code. The in-store representative can select the nearest stock location and get it shipped directly to the customer.
This way, the technology helps simplify and improve the retail brand's inventory management by reducing the need for excess stock and eliminating the need to carry multiple product lines. The innovative retail solution assures that every ordered product by the customer contributes to 100% order fulfilment.
Must Read: Top benefits of Omnichannel order fulfillment
6) Ease of use
Retail store sales representatives do not need special training or tutorials to use the Endless Aisle solution. Fynd Endless Aisle solution is just like any other e-retailer app in the industry that can be installed quickly on a handheld digital device like a tablet, iPad, or smartphone.
The sales representative can show every detail of the product to the customer, like product recommendations, reviews, available size, style, colour & fabric, to the customers and help them shop products quickly at a single click of a button.
Read Now: Fynd Store more than an Endless Aisle Solution.
Superdry Case Study
Superdry is a vibrant modern brand known for high-quality products that mix vintage Americana and Japanese-inspired motifs into a British look. They are known for their high-quality fabrics, authentic vintage washes, one-of-a-kind detailing, world-class hand-drawn graphics, and customizable fits with various styling possibilities.
How did Superdry use Fynd Endless Aisle Solutions to curb in-store shopping abandonment?
The brand successfully leveraged Fynd's Endless Aisle solutions to offer products that are not available in-store if a customer visits the Superdry store in search of products but could not find one due to a lack of available colours and sizes.
In this scenario, the Superdry sales executive can immediately use the Fynd store app on his tablet to offer clients the latest products with his preferable colour, size, fit, comfort and style. Due to the integration of Superdry pan-India inventory on the Fynd app (Endless Aisle), the entire inventory of Superdry is visible to the consumer.
The visiting customer at the Superdry store is delighted to discover his favourite products on Fynd Store and completes the purchase using convenient payment methods like UPI, online payment, or credit/debit card.
It makes Endless Aisle technology a perfect retail solution to attract more Superdry customers, both online and in-store, enhance in-store footfalls and online conversions.
Spykar Case Study
Spykar is a well-known denim brand in India driven by a love for creative innovation and a desire to keep up with the ever-changing dynamics of the global fashion market for the 'Young & Restless' generation of today.
How did Spykar use Fynd Endless Aisle Solutions to create a centralized inventory?
There was a massive challenge to connect 200+ Spykar franchise store inventories across all online channels to ensure quick availability of the latest Spykar products, improve inventory management, and decrease logistics costs for all customers.
The risk of losing a Spykar consumer when a product is unavailable can be immediately eliminated with the help of the Fynd Endless Aisle solution. The Spykar store associate can quickly place the order for the customer on the Fynd store app, and the order will be delivered directly to the customer's home.
The technology enabled Spykar to keep their entire product catalog available for online and offline retailing, thereby completely plugging the loss of in-store sales due to the unavailability of physical Spykar inventory.
Conclusion
Many retail experts have noted that online shopping is the future of retail. Businesses need to find new ways to support their customers, balancing their offline and online shopping experience to stay ahead of the competition.
Endless Aisle technology has been proven to be one of the most effective ways to do this and is expected to positively affect how retail businesses operate in 2023.
Fynd Endless Aisle solution reverses the loss of sales in physical stores and is used by over 600 brands and 10000 stores and is committed to enabling enjoyable shopping experiences for everyone, everywhere. Book a demo now or Contact us immediately to know how Fynd Endless Aisle solutions can transform the fortunes of your retail business.
