Jun 18, 2020   SOURCE: PR NewsWire

New Raydiant Report Shows How Brick and Mortar Retailers Are Preparing to Reopen

SAN FRANCISCO, June 18, 2020 /PRNewswire/ -- Digital signage and in-store experience solutions provider, Raydiant, has released the findings from their new Reopening of Retail report.

The report surveyed 400 U.S. brick and mortar retail operators from May 21 to 24 with the goal of better understanding how they've adapted during the pandemic and what they are doing to prepare for their business for the post-COVID world.

Bobby Marhamat, CEO of Raydiant said: "This has been an incredibly challenging time for brick and mortar retailers, but our belief that the industry has a bright future remains as strong as ever. Change has been accelerated faster than expected but retailers who are able to adapt to these changes will thrive in the years ahead."

Key Findings: 

    --  Commercial real estate is poised for a massive shift. After being forced
        into an uncomfortable situation, 29% of respondents now plan to close
        their physical locations to go online-only, while 14% intend to
        downsize.
    --  Curbside pickup and delivery options are now permanent. During the
        pandemic, 21% of retailers began offering curbside services, and 31%
        started offering delivery. Most who added these services intend to keep
        them.
    --  In-store experiences remain a vital differentiator. When we asked where
        retailers would focus next, 41% said creating better experiences would
        be their top priority upon reopening. The majority of the survey group
        (85%) believed in-store experiences would be important to their
        reopening success.
    --  Many brick and mortar retailers relied on e-commerce to survive the
        pandemic. Surprised? Don't be. Physical stores often use e-commerce to
        expand their offerings. In our survey, 43% said they could have survived
        without expanding into e-commerce, but 26% said the move saved their
        businesses and 29% weren't sure whether they would have made it on their
        own.
    --  Retailers are prepared but have concerns about compliance. Retailers
        believe they can serve the health needs of customers and employees
        alike, but they don't know whether local regulators will agree. Of our
        group, 75% feel prepared to reopen, but 34% worry about compliance.
    --  New tech and tools will debut during reopening. Better tech mattered
        before, but with new customer expectations developing, 58% of
        respondents said they are considering investments in new tools for
        reopening.

To view a full copy of the report, please click HERE.

About Raydiant

Raydiant helps brick and mortar businesses transform their TV's into interactive digital signage. By simply plugging in Raydiant's hardware into any TV, users have access to their full experience platform where they can create and manage their in-store experience from anywhere. Founded in April 2017 and formerly known as Mira, Raydiant is backed by technology investors, including Bloomberg, Inc., Transmedia Capital, 8VC, Atomic VC, and Ron Conway.

Media contact:

Holly Hitchcock
Holly@FrontLines.io

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SOURCE Raydiant