The term “Total Retail” refers to an approach to retail that takes into account the user’s entire customer journey, which can involve interaction with both physical and digital touchpoints.
The goal of such an approach is thus to make the customer or potential customer perceive no element of disruption or friction in the transition from one touchpoint to another through the use of effective technological solutions and winning omnichannel marketing strategies.
The Total Retail model is based on two founding principles such as:
- Consumer centrality in the business model
- innovative and high-performance technology solutions with CDPs.
In analysing this business model, PWC has identified four key breakpoints from even previous business models that stem precisely from the two founding principles noted above:
- central role of the store especially in product selection and testing particularly useful especially in certain commodity-related sectors;
- smarthpone use mostly in research and analysis to compare prices and find more information about the product itself;
- social network development: to learn and share opinions and reviews on products/services even before purchase;
- demographic changes related to the extensive use of digital channels especially among 18- to 25-year-olds is revolutionising the sales market.
