Retail-as-a-service (RaaS) implies creating capsule experiences in physical spaces to focus on consumer service, not just the sale, and how small format traditional retailers can compete in an impactful way with organized retail formats, big box retailers & other e-commerce giants.
The concept emanates from the idea that as consumer expectations & aspirations shift, consumers are looking to feel something when they interact with a brand. Experience, emotion and connection are the driving forces; online shopping may have increased convenience, but it’s decimated the pleasure factor. Food & FMCG Brands are targeting offline retail platforms for fortifying retail width & depth. RAAS is all about re-imagination of the traditional department store; where multiple retailers promote their products in the shared retail space. The difference is that rather than a focus on stock management and the hard-sell, these stores are all about the immersive brand experience. There are fewer products on the shelves but there’s beefed up retail storytelling and the staff are more ‘actor’ than ‘assistant’. Being able to narrate a story that resonates with your brand and delights your customers is one of the new ways that companies resorting to for scale.