Retailers Banking On New Technology: Something New Is Brewing!
As far as the businesses go – technology has been playing a major role in the development of consumer choices. And its only the retailers who adapt to the changes in technology who will be able to craft a market for themselves in the future.
There have been tremendous retailers who have run out of funds for the operations of their stores and thus experienced a shut down. Major reason for it goes being out of competition because of untapped business opportunities. This includes a list of brands including Aeropostale, Toys R Us etc. Had it been the e-commerce space the business would have defeated many other retailers.
Therefore technology is essential to the craft of consumer choices in two aspects: Personalized experiences and catering to anytime accessibility!
Brands are repeatedly shifting to new innovations which can help them enhance the experience their customers have on the website or on the app. Therefore as the e-commerce stores, web boutiques, e-stores etc are the retailer outlets online, when customers come visiting – it is about which platform promises the best experience.
Sephora recently moved to a AI oriented and augmented reality mechanism for developing the website which provides for a deeply satisfying customer experience. Sephora offers a 3D live technology experience where the customers can upload their pictures and with the help of Color iQ detect their skin colours and other shades to determine which product suits them. This has been a brilliant move from a make-up and cosmetic giant bringing it accolades from the industry.
With growth of online AI and augmented reality retailers are increasingly making people have a holistic purchasing experience!
This relates to retailers connecting to the customers anytime and everytime. The customers are at an ease to use the mobile phones and log on to the websites and mobile applications to place orders, get responses, have a problem solved etc.
The most revolutionizing move has been from the food and restaurants sector who have established a live portal for the customers to order food and get updated about it through the help of chat bots. Giant companies like Amazon too have made the use of this to incorporate a thoroughly informed ordering system.
When it comes to designing a technology oriented retail marketing system Nadeem Shaikh has been a prominent name in the industry. His work towards bringing innovating financial service has been tremendous. Currently he guides businesses with financial services and innovative technology understanding.