Key Challenges Faced by Multi-brand Retail Store in 2024

Sekel's integrated solutions offer a lifeline to small retail stores in 2024, ensuring smooth omnichannel transitions, fostering loyalty, and unleashing the power of first-party data. The orchestrated tech stack transforms customer insights into marketing magic for unparalleled success in the hyperlocal digital landscape.

As we enter 2024, retail is changing. AI-powered apps and digital agents are on the rise, but physical stores still rule, with 65% of retail spending happening in them. For success, a seamless blend of online and offline experiences is vital. This demands a strong digital setup and supportive dealers armed with integrated, content-driven, and consented first-party data. Sekel stands out as a partner, offering solutions to challenges faced by small retail stores. From smooth transitions to leveraging first-party data, Sekel's approach helps retailers thrive in the hyperlocal digital era.

Key Challenges Faced by Small Multi-Brand Physical Retail Store

In 2024, the mobile audience is expected to undergo a significant shift in buying behaviour with the advent of AI-powered AI-powered apps and agents. However, physical stores will still be dominant in retail. Even though 96% of consumers participated in online e-commerce, 65% of all retail spending still happens in brick-and-mortar stores. This highlights the importance of a dynamic omnichannel strategy seamlessly integrating online and offline experiences. However, achieving this can only be possible if you have a robust digital infrastructure and your dealers have a similar digital infrastructure to support a smooth transition. You can expect them to help you deliver remarkable growth only if they are supported with integrated, content-driven, and consented first-party data and can organically engage with end customers near their stores' locality.
 

1. Frictionless Omnichannel Transition: Challenges Faced by Retail Store

Frictionless flow is a significant challenge for brands and end-users as they seek smooth transitions between online and physical stores. To achieve this, centralising data is crucial. Sekel has built the CDP on their Hyperlocal tech stack, which allows brands and end-users to navigate both sales channels smoothly. This is achieved by combining online and offline customer information for a more holistic view.

2. Loyalty Programs for Personalization: Challenges Faced by Multi-brand Store

Loyalty programs are also crucial in personalising interactions across channels. Sekel offers merchants a free inbuilt CRM and SellrApp to target end-users and build strong loyalties.

3. Demand Generation through First-Party Data: Challenges Faced by Small Retail Stores

To maximise the advantages of first-party data in the privacy and consent-driven digital ecosystem, first-party data collection and activation plays an important role.WFrictionless flow is a significant challenge for brands and end-users as they seek smooth transitions between online and physical stores. To achieve this, centralising data is crucial. Sekel has built the CDP on their Hyperlocal tech stack, which allows brands and end-users to navigate both sales channels smoothly. This is achieved by combining online and offline customer information for a more holistic view.

We have built a programmatic ad-buying platform to maximise the advantages of first-party data in the privacy and consent-driven first-party data collection and activation. This helps resellers and dealers activate global best practices of digital media buying experience with no agency required to achieve similar professional outcomes. We offer options like buy online, pick up in-store (BOPIS) easy returns for online purchases, and dynamic ads bidding at a fraction of the cost to deliver double-digit leads to sales conversions. We have built a programmatic ads-buying platform. This helps resellers and dealers activate global best practices of digital media buying experience with no agency required to achieve similar professional outcomes. We offer options like buy online, pick up in-store (BOPIS), easy returns for online purchases, and dynamic ads bidding at a fraction of the cost to deliver double-digit leads to sales conversions.

Why Is It Essential to Have All the Above Built-In Features to Succeed in a Hyperlocal Digital Approach?

a. Personalization Fuels Loyalty

Forget one-size-fits-all. Understand your customers' history and preferences through data analysis or in-person interactions. Use this knowledge to personalise content, recommendations, and offers, fostering deeper engagement and loyalty.

b. Nix the Siloed Mess

Conflicting messages from disconnected marketing channels frustrate customers. Combat this by:

- Unified strategy

Develop a clear omnichannel marketing plan encompassing all channels.

- Assertive communication

Ensure consistent messaging across teams and platforms.

c. Tech Symphony, Not Cacophony

Integrate your marketing technologies for seamless data flow. Avoid tool silos and create a unified platform for managing customer data, delivering campaigns, and measuring results. This orchestrated tech stack enables an effective omnichannel strategy, turning customer insights into marketing magic.

Frequently Asked Questions (FAQs)

1. What is a Multi-Brand Store?

A multi-brand store offers products from various brands in a single location, providing diverse options for customers.

2. What are the Challenges Faced by the Retail Sector in India?

Challenges include supply chain issues, regulatory compliance, evolving consumer behaviour, e-commerce competition, and infrastructure constraints.

3. How do you Manage Multiple Brands?

Effective management involves clear brand strategies, consistent communication, target audience segmentation, differentiated positioning, and efficient operations.

4. What are the Disadvantages of Multibranding?

Disadvantages include cannibalization, management complexity, resource allocation inefficiency, brand dilution, and higher marketing costs.

Conclusion

In navigating the challenges of 2024, small multibrand physical retail stores find a beacon of hope in Sekel's integrated solutions. From ensuring a frictionless omnichannel transition through a robust digital infrastructure to fostering loyalty with personalised experiences, Sekel's offerings empower retailers. The programmatic ad-buying platform amplifies the advantages of first-party data, delivering cost-effective solutions like BOPIS and dynamic ads bidding. The essential built-in features create a symphony in the tech stack, turning customer insights into marketing magic and propelling retailers toward success in the hyperlocal digital approach.

Take Advantage of Sekel Tech's Multi-brand Retail Stores Marketing Platform

Take your multi-brand retail store to new heights with Sekel Tech's cutting-edge marketing platform. Our integrated solutions empower retailers with seamless omnichannel transitions, personalised loyalty programs, and the prowess of first-party data. From frictionless customer experiences to cost-effective ad-buying solutions, Sekel Tech propels your business towards success in the hyperlocal digital approach. Don't miss out on the opportunity to redefine retail excellence – leverage Sekel Tech's platform today and stay ahead of the competition.