Technology drives every industry, including today’s bustling retail segment. However, the main hurdle to the successful implementation of technology is usually education. For retailers, it’s not a matter of finding the solutions needed to increase retail sales through technology – it’s picking the right technology that is scalable, easy to integrate, and makes sense for the size, scope and type of your retail business.
In the information below, we’ll outline a few of the growing technology trends that brick and mortar retailers can integrate to improve the customer buying experience and sales, without breaking the budget.
Innovation in the Retail Industry
The primary objective of any retail business is making money. Every day, retailers from grocery stores to restaurants work hard to create service offerings or sell products that today’s evolving customer is actively searching for. While communicating with customers through personal interaction is quite helpful, implementing technology to gain valuable insights helps retailers make more informed decisions from larger consumer groups.
The key attribute that all retailers are striving to integrate into their businesses is connecting with consumers. This is where innovation and technology come into play. There are several ways that retailers can use technology to gain valuable insights from customers including:
- Creating customer reward programs: A customer reward program at the surface is intended to provide incentives and discounts for frequent shoppers. But did you know that many of these programs require an active email or telephone number. This valuable data, especially those with mobile devices, permits retailers to create online surveys that reward customers with added discounts, simply for 5 minutes of their time.
- Mobile Apps: A mobile application connected to your online website platform and retail business provides today’s consumer with an easy to access and use mobile system that can allow the customer to find items of interest quickly and conveniently.
- QR Codes: Allowing customers to scan items of interest, that can automatically populate or save items to their online shopping cart or mobile app, not only improves opportunity for sales conversion, but it enhances the customer experience.
Retail Sales Tips and Techniques in the Digital Age
People today are connected to their mobile devices and online social network platforms of choice. Digital marketing has quickly elevated itself to a must-have program – especially for those who are battling the online marketplace with their brick and mortar retail locations. With the creation of online coupons, discount programs, email marketing, and social media activation, finding and connecting with customers online is a simple reality that all retailers must deal with in order to survive.
That being said, there are a few important retail and sales tips, focused on digital technology that will permit retailers to compete head to head with competitors who are likely use these tools currently.
- Focus on mobile integration: From setting up an Adaptive + Responsive website that can be accessed from tablets and mobile devices to creating apps that can be downloaded for free, today’s brick and mortar retailer must discover ways of integrating mobile technology into their marketing and advertising campaigns.
- Analytics make a difference: While understanding the consumer’s likes and dislikes is crucial to success, analysing data to better comprehend their buying decisions is just as critical. Analytics in online marketing is the key to the success or failure of any campaign. Having the ability to review data and adjust the online marketing strategy accordingly is how successful programs are activated.
- Artificial intelligence: AI has quickly become a reality from which we can all benefit. Using advanced blockchain technology platforms that link the customer buying experience to automated alerts on inventory levels, deliveries, or customer inquiries, AI can efficiently pinpoint and improve the customer service experience.
- Expand service offerings: You’ve likely heard of the term omnichannel. If you haven’t, it’s something you should familiarize yourself with as it’s another growing technology trend. Basically, omnichannel commerce offers customers multiple opportunities to purchase products. Whether it’s an online e-commerce platform, to delivery driver apps, customers are looking for more convenient ways of buying goods.
- Augmented reality: While virtual reality provides an intense visual experience, augmented reality or AR through mobile apps or connectivity allows consumers to test-drive products from their mobile device. This is especially beneficial for retailers of clothing or self-care products.
Today’s consumer is always looking for better ways of spending their hard-earned money. Retailers who are proactive about integrating technology into their marketing and advertising campaigns are the ones who will survive in this fast-evolving landscape. However, those who brush it off as a trend that will slowly disappear are the ones that will find it increasingly difficult to keep their doors open. As a retail business, you may also like to consider your insurance options.
The inclusion of technology for any retailer is a reality that all businesses who sell products to the general population must accept. The key is reaching out to those with practical experience in these fields, such as digital marketing firms, branding businesses, small business insurers, or perhaps fellow business owners or managers that you can depend on for information.