The retail markets and the customer experience have changed dramatically in the last decade due to the onset of digital marketing.
The customer experience has become more engaging and satisfactory which is working as a key factor for better revenue for the retailers.
The implementation of the advanced techniques to make the business spread digitally has created a richer experience for the consumers.
The digital transformation is just not limited to the opening of an e-commerce platform or creating a website for your business, it also includes revolutionising the customers’ overall shopping experience.
Following are some of the retail trends that are designed to engage the customers, build better loyalty with the customers, and to create the best shopping experience for the consumers.
The use of Artificial Intelligence is the key factor in implementing the digitally advanced techniques.
- Use of chatbots
Chatbots use Artificial Intelligence to communicate in a better way with the customers and that too anywhere and anytime. Chatbots are usually uploaded with the solutions to the repetitive questions that many customers might ask. This prevents the hiring of more human force to answer the repetitive questions.
Chatbots are active 24/7 across a variety of channels and can handle customers in a better way than humans.
At present worldwide, over 80% of the brands are currently using chatbots to communicate with the customers.
2. Use of AR/VR (Augmented Reality/Virtual Reality)
The implementation of Augmented and Virtual Reality into the business acts as a way to enhance the engagement and personalisation of the shopping experience of the customers.
There are various companies that are providing the AR/VR experience at home only. Using the AR technology, the customers can try shoes, jewellery, and spectacles by just sitting at home.
Similarly, there are many brands that are providing the in-store experiences of the Augmented Reality. Here, through the Augmented Reality, the store provides customers with content in the form of the video so that the
customers can connect with a particular product.
Now comes Virtual Reality. Many brands are using this to enhance the customer experience which allows the customer to create a connection with the product even before buying it.
Suppose, you have a business of selling tents, then by implementing the technique of virtual Reality you can give your clients the experience to walk through the tents, know about the space inside, and also to know about the overall comfort of the tent.
The use of AR and VR has increased the sales of many businesses by 70% as now the customer can experience the end result of buying a product even before buying it.
3. Cash less in-store transactions
Many retailers are using the advanced technology to streamline the process of checkout thus by making the purchasing process easy for the consumers.
One of the most popular example we have here are the Amazon offline stores, where the the technology of Artificial Intelligence automatically tracks and registers the products picked up by the consumers and eventually charges them as they leave the store.
This avoids the long checkout lines and gives the customers the comfort of hassle free checkouts.
According to a study, by the year 2025, the companies will be saving up to $400 billion a year by using the automated checkout processes as they will not have to employ the cashier staff.
4. Use of IoTs (Internet of Things)
The another way of digital transformation to shape the future is to adopt the IoT (Internet of Things) devices in the stores.
The implementation of the sensors to read the RFID tags as soon as the customers pick up the items from the shelf can be revolutionary in the retail world.
There is an example of a famous brand - “Levi’s” which implemented the RFID tags to automatically track the items picked by the customers during shopping through an offline store.
Many brands are also implementing “smart mirrors” in their stores to provide customers with more information about the product. Through this, the customers can also summon the store assistants or request for different sizes or colours, or accessories that might suit with that product.
These are some of the points showing the importance of the implementation of various advanced technologies in your retail store to enhance the customer experience and there by to enhance your revenue.
Within a decade or two, the advanced technologies will become a common thing.
To give a boost to your business in the digital world, do click on the below link:
https://retail.techics.com
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