Walmart is without a doubt always one of the front runners in the Fortune 500 list, but you cannot stay on top without reinvesting back into your business. There are several ways Walmart can maintain its position in the Fortune 500 and we have listed them out for you.
With the pandemic accelerating e commerce adoption rates by 10 years, people are more willing to shop online than ever before. Customers are able to buy almost anything from the comfort of their home. It is now crucial that brands make in-person shopping an experience to draw in the customer. One way you can draw customers in is by implementing digital signage, 8 out of 10 customers enter a store because of interesting digital signage. In addition, digital signage can be a form of entertainment, keeping customers engaged while waiting in long lines or for customer service. 50% of millennial men and 70% of millennial women consider shopping a form of entertainment and something to share with friends and family.
In addition to digital signage Walmart should implement an endless aisle solution where users are able to see all available inventory, learn more, compare products and see where items are located. Endless aisle solutions allow customers to receive product help without the need for a sales associate, or aid a sales associate in educating customers on Walmart products. At a store like Walmart it can often be hard to get sales help from store associates because they are usually busy stacking shelves, having an endless aisle solution would be beneficial for customers and staff in product education or locating a product. Our endless aisle solutions pull product information from a company’s overall product inventory but still allows you to see product and pricing information on a local level too.
With online customer interactions growing from 42% in 2019 to 60% in 2020, many customers prefer to shop online rather than in store, especially with Walmart’s 2-day shipping. Augmented Reality gives a tangible element to online shopping, allowing the customer to see their new purchase in their space before they buy. Walmart can adopt AR for their more expensive items such as TV’s, furniture and more, making it easier for customers to picture the product in their house. AR is also proven to have a higher conversion rate than items without AR (94%). AR also minimizes returns, by allowing customers to see if their new refrigerator will fit through their door before they place their order.
And lastly Reality Interactive could implement an interactive quiz helping customers pick their design style and showing them all potential furniture products that may appeal to the customer. Making shopping for their new home even easier.
Overall Walmart can implement many ways to improve their customer experience both in-store and online, resulting in happier customers and more sales.
If you are interested in our retail solutions speak to a member of our sales team to see how we can improve your retail experience.