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Using Technology to Enhance the In-Store
Experience
It is widely perceived that online commerce, with its
advanced technology and tracking mechanisms...
..has put physical retail outlets on the backfoot.
Automation, Artificial Intelligence, Virtual Reality and other
technology enablers have provided e-tailers the edge.
Physical Store-fronts are keen to use the same
technology to level the playing field!
A June 2016 survey found that “technology can help retailers reach
more consumers, as well as better inform in-store employees.”
When customers shop online, they leave a lot of
information including their shopping preferences,
product purchase frequency, product preferences, etc.
This information is hashed, anonymized and
stored on the cloud.
Analytics helps drive incremental sales by providing
customers relevant options such as “a customer who
purchased this also purchased..”, etc.
When store employees are knowledgeable about
customers and better equipped with the latter’s needs..
..the employees are better equipped to help
customers and thereby increase sales.
Beacons are a great example of how technology is
being leveraged to enhance in-store experience.
Bluetooth beacons are small electronic devices that emit
radio signals. Customers using smartphones can interact
with the store..
Bluetooth provides proximity awareness to retailers to
help them interact and engage with customers at a time
when they are located near their store..
Retailers are using various technology-enabled
mechanisms to better serve customers. These include:
A. Dynamic Pricing
51% retailers that responded
to a survey by Forbes (in
cooperation with E&Y) say
that “customers will
appreciate the efficiency and
visibility of real-time pricing
B. Personalized Interactions
C. Inventory Management
Per the Forbes Insights survey, as
many as 94% retailers believe that
in-store technologies help them
with inventory management at the
store level. 79% retailers attribute
their lower out-of-stock situations
to the in-store digital technologies.
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