As surprising as it sounds, going mobile is already passé. Most modern retailers have already made the leap to mobile. They are now exploring innovative ways to leverage mobile and other futuristic technologies to make the most of their tech investment.
If we look at the consumer landscape, consumers today are doing more than just shopping. They are always on the lookout for better buying options, which is driven by reach and availability. And that is the missing piece in the puzzle, which every retailer should invest in.
Retailers today, are faced with the challenge of being accessible and available at every stage of the consumer buying cycle. Whether it is product/service exploration, decision-making, buying or post-purchase follow-ups, retailers are expected to be at the forefront at each and every stage.
Retilers are also expected to provide a seamless experience to the consumer across all touchpoints. Whether it’s the website, in-store experience or trade show. Consumers expect retail brands to know everything about them, their preferences, previous choices and buying patterns.
Here are three tactics, which every modern retailer must employ to stay relevant in the highly competitive consumer space.
#1 Create an In-Store Experience which makes consumers to come back again
Several studies highlight the emergence of eCommerce and the death of brick and mortar stores. But retail stores have an inherent advantage. Unlike online shopping which provides a virtual experience, physical stores can provide an experience which is human, real and impulse driven. Consumers who prefer online shopping, do it due to the inefficiencies and inconveniecne they face at physical stores.
Long queues, complex return policies, scattered placement of products in stores, etc. are few of the grudges consumers have. Modern retail technoology can not only address all of these but go one step further to provide a delighful customer experience.
Express POS, Mobile POS, Self Checkout, Click and Pay are few of the tech enablers which will go a long way in building consumer loyalty.
#2 Personalizing shopping experience, really
Personalization has been discussed almost in every thread which relates to retail. Leveraging mobile apps together with data captured at POS can help you not only promote your products better, but also make the consumer feel loved.
Imagine being able to wrap a gift just how your customer has always preferred. The feeling of joy it evokes in them is just a small example of bringing in a personal touch to their experience.Personalization is extremely important to form a brand perception and build on it to have a loyal customer base. Infact this is one factor which seperates the better from the best. An Uber from the rest and so on.
#3 Proximity based marketing
Using mobile apps and proximity sensors, retailers can inteligently send out promotions which gives them conversions. For example, if a consumer has spent enough time in the baggage section, it is likely they are planning to travel. Sending them your best deals on their mobile phone can improve your chances of conversion and also provide instant gratification to the consumer.
Proximity based marketing has been extremely succssful in developed countries, so there is no reason why it wont work in India.
The Bottom Line
The retail space is more competitive than ever. Not only do they face competition from other offline brands but also emerging web only brands. It is imperative for retailers to think through an integrated strategy to retain their customer base and also acquire the next genration of shoppers, who are extrmely tech savvy and expect a TEN Star experience from the word go.
If you need help in better understanding the retail technology landscape or have questons regarding any of our retail tech solutions, get in touch with our Retail Tech Experts. They will be more than willing to help you in your tech moernization journey.
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