From Bricks to Clicks: SoLoMo Saves Retail - #MarketingTechMin
In today's Marketing Technology Minute, Chris and Spencer discuss why the sudden shift to a mobile-first mindset poses a huge threat to bricks-and-mortar businesses, and how some are adopting SoLoMo marketing strategies to stem the tide. While e-commerce, or "etail," websites such as Amazon have largely profited from the transition to SoLoMo, a number of big-box retailers haven't fared as well, finding it difficult to stay competitive in today's hybrid online-offline shopping environment. Many are faced with diminishing sales conversion rates, as shoppers treat their stores as mere "showrooms" for products that end up being purchased online. To stay on top in the digital world, companies like Walmart are leading by example, embracing digital technology and SoLoMo to integrate mobile into the retail shopping experience. This "clicks and mortar" approach is helping physical retailers bridge the growing divide between themselves and the digitally minded consumer.