Lockdown has initiated a behavioral change when it comes to shopping. Nothing will be the same again. With an increase in Digital Consumption, consumers now have more confidence in buying and executing transactions online. Retailers need to strife and amend to matchup the change in customer behavior.
While expanding their digital footprint further brands must realize reaching the last customer remains a challenge. They need to show that they care and foster the path of Digital Commerce not just online but by incorporating contact-less and cashier-less operations in their physical stores.
Retailers are adapting to the “New Normal” whilst keeping a birds-eye view on customer behavior.
Here are the 7 technological trends that retail businesses will willingly or be forced to implement.
Mobile devices will be a prominent player in your e-commerce strategies. This approach will generate real-time and relevant data, and guide customers in-store and online. Also, the retailers will realize both the revenue and efficiency potential of mobile. The use of GIS data and Mobile-Checkouts will become popular.
With the new reality of hyper digitalization, the new and improved Omni Channel policy is a MUST for Retailers. While developing these strategies a uniquely customized process with customer-centric goals is the key.
Tailored Customer Experience
Tailored customer experience for each customer in the physical world is impractical and expensive. But in the virtual world, Big Data and Machine Learning can help enhance customer shopping experience along with catering individual demand.
Bots & VA
BOTS and VA are used to perform tasks and assist customers in an online marketplace. These technologies support retailers reduce time to respond to customer inquiries and needs.
Robotic Process Automation is changing lives. Robotics is driven by the sole purpose of innovation and creativity to improve customer experience. RPA in sales can offer real-time reports on customer preferences and behavior related to aspects of a product.
Digital storefront is not a new reality. Businesses are taking advantage of online platforms to connect, sell, and provide service to customers for the last few decades. However, Retailers in today’s world are leveraging AR technology and Social Media to bridge the gap between digital and physical stores.
AR/VR fitting rooms, Smart Mirrors (tryout cosmetics) that include visualization and annotations to help customers experience the products in the virtual world with a real-life feel.
Digitalization is not only become the primary sales channel post-pandemic; it can open doors to new logistics and sales-fulfillment alternatives like click-and-collect or drive-through and aid brands with creative ways of customer acquisition. Brands can analyze these new data to predict market demands and increase consumer conversion.