Check some future technologies that will prepare the retailing companies to stay ahead of tomorrow's shoppers..
Retailers should stay adept with the trending marketing knacks to meet the new age demands of different shoppers. Pay online, home delivery, discount coupons etc. all these no longer attract a prospective buyer. The prevailing players in the online arena such as Amazon strengthens retailing with offers such as one tap purchases, same day delivery, auto-renewals that simplifies the overall shopping experience and increases brand loyalty.
Meanwhile, physical store retailing has also evolved over the years with retailers remodeling their stores and strategies to attract the shoppers. Around 45% of retailers are well-versed to use artificial intelligence (AI) technology starting from now till 2020. Such innovations ease the back end operations and analyze critical data to calculate store performance on a daily basis.
Whether e-commerce or in-store retailing, it’s high time for the retailers to take the next leap to survive the prevailing competitive market. Let us check some future technologies that will prepare the retailing companies to stay ahead of tomorrow's shoppers:
Technology that Allows Personalization
Nothing can be more interesting to the shoppers than building their own watch, t-shirt, purse etc. Customization makes the shopping experience exciting and gives a unique product suiting customer preferences. For instance, using virtual try and face recognition, an eyewear retailer letting customers create their own pair of sunglasses with the facility of changing frames and lenses. This ensures lesser return and exchange requests.
Streamline Communication with the Trending Apps
Retailers should make their presence on the instant messaging applications so that customers don’t feel lost after ordering a product. Ensuring clear communication about their order query or status increases credibility of the company. For instance, if a shopper tries to track their order, they can access “Ask” the retailer on Messenger, and a chatbot can automatically retrieve the shipment information. For B2B businesses, online bidding and quotation raising processes can help customers spend less time in raising requisitions.
Voice Assistants Simplifying Shopping
Amazon’s Alexa and Google Assistant have entered the retail zone to simplify various tasks for the customers. Buying can be performed just by asking; this enables retailers to personally interact with customers and induce purchases.
Ensure Your Social Media Strategies Run Strong
Simply posting images to your social media story or news feed won’t do any good to your brand. Post content that is interesting and engages your target in real time. Leveraging analytics tools and targeting the relevant consumer group basis their interests is extremely important.
Reach Out to Customers in their Own Space
This doesn’t mean door to door selling. It means giving customers the comfort of getting their products delivered, installed or assembled at their home. For instance, retailers dealing with furniture and electronics can do things like assemble furniture, install appliances, and more. On-demand delivery platform continues to provide services beyond food deliveries.
Analyze Your Customer’s Behavior
New era recommendation engines analyze the consumer behavior pre and post their site visit. These engines provide data on consumers buying and viewing journey making cross-sell and upsell easy and effective. Making sure only selected options are shown to the customer basis their past purchases and interests increasing the likeliness of purchase
The future retailers should keep an eye on the shoppers’ behavioral patterns and preferences and accordingly invest in the trending technological advancements to meet the current customer demands and maximize profitability.
Ambab is a pioneer in consulting and successfully delivering complex consumer platforms globally to help retailers achieve accelerated growth and drive innovation. We have more than 10 years' of experience helping a diverse range of retailers- enterprise or start-ups to incubate their consumer internet products.
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