Welcome to Episode 3 of Retail Untapped — the new video series from 3×3 Insights covering news, trends, and insights across the independent channel.
In this week’s episode, we discuss The Digital Transformation of Alcohol Retail.
Last year, 90% of retail growth in Fast Moving Consumer Goods came from digital channels, with eCommerce driving growth across product categories. This digitization is already visible in the beverage alcohol industry — just look at the rise of on-demand apps like Drizly and Mini Bar. If independent store owners want to grow their market share and meet customer expectations, they need to consider adopting a digital strategy that addresses the following criteria:
The Customer Journey: Visibility is key. Your store needs to have an online footprint, so customers can easily search for, discover and explore your business before they walk through the door.
Tell a Story: Today’s consumers are curious about product origins, ingredients, and food pairings. Capture more business and more loyalty by conveying this information in-store and online.
Comprehensive Service: Details are crucial to developing an e-commerce tool. Make sure that customers can track their products from purchase to delivery.
It’s difficult to transform your business, but the opportunity is large and it’s absolutely critical for long-term growth and viability.
Thanks for tuning in to Episode 3 of Retail Untapped — visit us again on August 28th to hear about The Power of Basket Analysis.