Expectations for retail based on five ”zeros”

The pandemic has been declared over, but retail behaviors and expectations have changed dramatically and continue to evolve. It is now time to roll up our sleeves and attract back the customer who may not have been in-store much during the pandemic years.

McKinsey & Company recently addressed the challenge brick-and-mortar stores face if they want to keep their physical stores relevant in the podcast McKinsey on Consumer and Retail Podcast and listed five things that stores need to do right – Five Zeros reshaping stores (five zeros that transform stores).

Zero difference in channels

We have become accustomed to shopping online and picking up products in store, or vice versa, trying them out in store and making the purchase decision on screen. Stores need to meet the customer who expects to meet the same experience and services online as in store and create a unified customer experience.

Zero desire for assistance

This statement applies to transactions, not that you should have a store without employees. When the customer wants to ask something, you need to be available, but the behavior that has been reinforced during the pandemic is the use of self-service checkouts. So you can let the staff leave the checkout in favor of helping customers on the floor, as today it is about time and convenience before the personal meeting.

Zero wait time

Today's consumer seems to lack all patience. Today you need to be able to offer fast deliveries, otherwise you will quickly be eliminated from the alternatives.

Zero tolerance for inaction on equity and sustainability

If it's good for the climate and people, we might consider waiting a little longer, or paying a little more. This behavior is also seen as an expectation of greater diversity and that brands are expected to take responsibility for improving the world.

Zero wiggle room on talent

Those who meet your customer must take care of them in the best way possible – therefore you must ensure that these people have the right knowledge, you must enthuse and encourage them and constantly continue to broaden their skills.

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