The process of shopping has evolved over the course of the Information Age. Traditional methods of going to a shop, seeing what is on sale and being hounded by the sales staff are almost behind us. The consumers of today are empowered by the Internet on their smartphones. The usual means of advertising do not seem to be enough anymore as consumers are increasingly using their smartphones to research a product before or after entering a store, or in some cases, right in front of the product in question. This Omni-channel approach to shopping helps customers compare prices, read reviews, and engage with brands on social media.
Is it all about the numbers?
A Deloitte study titled, The New Digital Divide, indicates that digital interactions influence more than $1 trillion in retail store sales. Also, digital shoppers purchase at a 40% higher rate in-store while 84% reach for devices before or during store visits.
The above statistic is among the many circulations all over the web. The common factor among all these projections is the magnanimity of the numbers. Rather than mulling over the rise of eCommerce and mCommerce eating into the brick and mortar market share, retailers need to take this opportunity to enhance the in-store customer experience that keeps them coming back again.
While most of the Internet is busy predicting the demise of the retail sector, it is still a force that should not be taken lightly. According to new figures from eMarketer, total retail sales in the US topped $4.53 trillion in 2013, and eCommerce accounted for a significant portion of that growth, up 16.9% in 2013 —or nearly $40 billion.
The digital, mobile and physical consumers of today expect retailers to be available everywhere, on the medium of their choosing. They do not want just e and m commerce but everywhere commerce.
Retailers that adopt new technologies help their customers to research and buy according to their tastes, significantly improving customer satisfaction.
Avnet’s IoT Readiness Workshop
June 12, 2019 | 9:00 a.m. – 5:00 p.m.
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Every day is a sale
The value you provide will set you apart. You have to strike the right chord with your customers. If what you offer in your store is close to(or less than) the product that is also available online, the customer is most likely going to click and buy rather than pick and buy, which every retailer across the world fears.
Your customers require value, rather than just coupons and offers. A coupon is a great way to attract a potential sale, but sometimes we tend to forget its impact on the user. Customers are more likely to avail an offer that is directed towards them. For example, if you send Jim a coupon on his birthday with a personalized offer, there is a higher chance of him availing it as opposed to a regular 5% off coupon on any other day. Such customizations can help strengthen the client-customer bond and boost loyalty.
To achieve a high level of customization, businesses need to make every interaction count. This means you need to record data from multiple sources which can then be used for analysis to gain valuable insights. Collection of user-generated data lets you classify your customers into various brackets depending on their interactions. This is where contextual marketing comes in, aided by mobility, GPS, Bluetooth and the Internet.
Retail of the future is already here
Softweb Solutions is proud to introduce Softweb Smart Retail, a beacon proximity marketing platform for retailers and brand owners. Smart Retail will help you attract, acquire, and engage a clearly defined target audience. You can group customers according to their tastes, demographics, loyalty and setup contextual campaigns to engage directly with each of them.
Geo-fencing lets you create virtual zones in public areas or near your shop that deliver messages and offers to the customers as they pass by. Enhance the in-store shopping experience by placing beacons at popular or high value products that send offers and messages to engage the customer. The insights feature offers detailed reports and statistics that will give you actionable insights into your campaigns.
These technological breakthroughs point towards a smarter way to sell, promising to boost the retail sector in terms of sales and customer experiences.