In the not-so-distant past, shopping for a trendy T-shirt meant a trip to the store or a few clicks on the brand's website. But times have changed, and we all know that the days when retail was limited to physical stores or websites are long gone! Think about all the places you can buy that same T-shirt today. The retail game has evolved into a multi-dimensional experience transcending physical and even digital boundaries and infiltrating every corner of our lives.

Nowadays, you can not only learn about, but also buy that t-shirt while scrolling on Instagram, watching TikTok, or being seduced by a video or a celebrity endorsement. It's not just about the destination anymore—it's about the journey, and every touchpoint has become a potential point of sale.

Live shopping has also re-emerged via popular social platforms, offering an interactive shopping experience. Consumers can tune into live streams hosted by literally anybody. People can view product demonstrations, ask questions in real-time, and make purchases with just a few taps on their screens. Live-commerce sales have significant potential for brands and e-commerce platforms. McKinsey predicts they could make up 10-20% of all e-commerce by 2026.

In this new world of retail, managing the experience is a complex task. Consumers are experimenting with new platforms, new brands, and new shopping experiences. Today, being traditionally trusted and well-known is not enough. People crave innovation, authenticity, personalization, and seamless integration across all channels. Meeting these expectations is a challenge that requires constant adaptation and innovation.

What the Data Show

At BAV Group, we delve into consumer expectations and experiences with brands, and how both impact brand equity and business outcomes. We analyze, predict, and provide actionable insights to anticipate or react appropriately to a dynamic and changing environment. Is my brand meeting people’s expectations? Is my brand providing a strong experience across touchpoints? Are we offering something better or different from my competitors?

Through our research, we've identified that ideal brands are those that do the following:

• Excel at their work.
• Genuinely care about people.
• Add significant value.
• Nurture relationships.
• Act with integrity.
• Create something extraordinary for their customers.

Endless Possibilities

In a world where every interaction matters, the possibilities are endless. The key to success in today's retail landscape is not just navigating the new reality but embracing it. It's about leveraging every touchpoint and interaction into an opportunity to connect, add value, inspire, build brand equity, and sell. This requires boldness, creativity, and the willingness to think outside the box. The rules have changed, so let's play the new game and bring a new era of retail marketing.

Are you ready to step up to the challenge?

Want to learn how ready your brand is for the new world of retail?
Contact us to schedule a 30-minute complimentary session.

Author: Natalia Restrepo, Director

Natalia Restrepo has been working with BAV Group since 2013 in LATAM and North America. She has vast experience in assisting local, regional, and global clients by using data to solve their marketing challenges and answer business questions. Natalia has collaborated with brands like Pepsi, Bimbo, Abbott, Visa, Walmart, Ticketmaster, Target, and Telefonica to identify insights and opportunities in each market, which further guide both global and local marketing strategies.

Her passion for understanding people’s behaviors and interactions with brands has led her to work on strategy teams in various businesses, including advertising agencies, market research agencies, and consultants.

When Natalia is not working, she enjoys cooking, trying out new restaurants, and playing volleyball.

Connect with Natalia on LinkedIn:https://www.linkedin.com/in/nataliarestrepoa/