How Do Custom Home Businesses Embrace New Retail?

- Jan 23, 2019-

In recent years, the sound of new retail has been heard, new home retail, new retail of e-commerce, unmanned retail... For the custom home industry, new retail is not a strange word, and the nature of retail will not change. How do companies grasp new trends?

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Since Ali proposed the term "new retail", in the concept of new retail, various genres and doctrines are full of excitement and excitement. Jingdong's unbounded retail, Tencent's smart retail, NetEase's "new consumption", etc. are emerging one after another. The new term is not a problem for the building materials home dealers who are accustomed to doing things. The "new retail" may be just a new term that seems to be ignorant.

Is there a new and old retail?

What is the significance of new retail for the building materials and home furnishing industry and for custom homes?

Custom home dealers are generally anxious, there are currently two core issues that must be addressed: First, the era of increasingly fragmented customers, how to obtain traffic? Second, the money has been promoted, customers have come, how Achieving high conversions (conversion rates and customer-to-single values)? This is actually an upgraded version of two key issues in the traditional retail industry, namely how to get effective traffic, and how to get customers to convert. We must use "new retail" to refactor the channels and terminals of custom homes and re-enable terminal marketing. The nature of the new retail "retail" has not changed. If there is "new", there will be "old" or "traditional".

What is the old or traditional building materials retail? - Go to the traditional store, find a good store, a good location, in order to get more passengers. Then, there is no passenger flow, and the passenger flow becomes effective. Therefore, the traditional retail work, including various tools, methods, words, products, etc., is to turn the passenger flow into an order.

The same is true for new retail, as well as the flow of passengers and the flow of passengers. The essence of retail is the same. New retail, where is the “new”? New retail, in fact, is a new change in two new ways of maximizing traffic and maximizing conversion.

First, the way to get traffic is new. E-commerce is called “traffic” and traditional retail is called “traffic flow”. In fact, all potential sales opportunities or potential customer touches that exist online or offline can be called “traffic”. The difference is that new retail is not just getting storefront passenger flow. And to get the most out of the entire online and offline, so, different from traditional retail, the way to get traffic is new.

Second, the traffic conversion method is new. From the nature of retail, there is no difference between new retail and traditional retail – no matter where the traffic comes from, it has to be converted into an order, and traffic must be maximized. The new retail is that “traffic” is more “passenger” than “passenger flow”. Although there are more opportunities, it is more difficult to convert into orders, because the consumers touched by each channel are different, and the nature and characteristics of the traffic are all different. Different, consumer demand and characteristics are different, so the conversion method is not the same, the operators need to do more work, especially to cater to various consumption upgrades to experience design, the means and methods to convert from traffic to order Innovation, ideas, tools, and methods must follow innovation and change. Therefore, the essence of the new retail is: to maximize the results of retailing through Internet-based ways and means - first, to have the ability to obtain more new traffic from online and offline; second, to achieve new traffic conversion Ways and methods.


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