The goal in retail is to improve revenue through existing customer engagement and new customer acquisitions, and technology is making this happen. But what technologies should forward thinking retailers embrace? The answer is going to be different for every single retailer, and there’s no time to wait and see what the competition is doing. One thing is certain, however: customers expect a fabulous experience, and technology plays a huge role in delivering that experience.
Here are some of the ways technology is reshaping the future of retail right now:
- Mobility, wearables, and networking all create high-tech sales associates. These associates will be armed with amazing amounts of product knowledge, sales tools, and personalized customer information. Don’t be surprised if a sales associate calls you by name. Through connected selling, associates will know your name and shopping history when you walk in. Mobile apps and CRM systems will combine with powerful new hardware to create unprecedented personalized selling solutions.
- Digital signage dominates. Digital signage delivers the right message, with customer engagement 50% to 70% higher than traditional signage. Both customers and retailers can experience an amazing ROI. Customers never miss a promotion and gain valuable product knowledge, while retailers can easily ensure the right message is always being delivered to maximize engagement. The ability to customize marketing content based on location, time of day, or even the individual customer will further drive engagement and free up time for sales associates to focus on customer service.
- Shop, pay, and deliver on your terms. Omni-channel retailing will become second nature. Shopping in the store and having the items delivered to your home or as a gift is a minimum expectation these days. The ability to shop at home and pick up in a store will be more common than ever. Shop when you can, wherever you can, and take delivery the same way.
- POS solutions go mobile, and customer checkout lines disappear. Sales associates will be able to shop with you on the sales floor and add items to your cart just like online. When you are done shopping, they simply swipe your credit card right on the sales floor. Better yet, smart retailers are developing apps to make checkout even easier. The goal is to minimize the checkout process and maximize the sales engagement. The right mobile POS solutions will change the way shoppers spend and improve the productivity of the sales associates at the same time.
There will be many other new experiences in the world of retail, including augmented and virtual reality, along with lots of personal shopping benefits. Keep an eye out for all the new activity which will change how we all shop in the future. The great thing about technology in retail is the win-win outcome. Customers win a valuable experience and retailers win loyalty and revenue.