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Future of Retail — In-Store Technology
issue 06
USING TECHNOLOGY AS THE ENABLER TO CREATE CUSTOMER CONNECTIONS The successful retailers will be those that use technology intelligently to connect and transform their ability to respond to the growing demands of the customer, and to deliver an enhanced experience.
1. Walk in the shoes of your customer Retailers are focusing investment on in-store experiences and social media that also allows them to improve their ability to get a single view of the customer. Retailers must segment and profile their customers to understand their desires – and to deliver on these expectations - and then some. The difference between winners and losers in this context is based on how much, or how little, they understand their customers. Understanding the shopping journey can help retailers identify additional consumer-connection moments before, during, and after the sale. Likewise, understanding the consumer
hooks provides retailers with the opportunity to make these consumer-connection engagement moments meaningful and memorable. For every touch point, there’s an emotional response from the customer with a corresponding implication for your business.
2. Find the single version of the truth One of the top issues for retailers today is parlaying the enormous amount of customer data they generate into actionable insights. The answer starts with data. Clean, accurate, and complete data enables
retailers to orchestrate data-driven interactions that gain and retain new customers, exploit new revenue opportunities, and increase the average order and customer lifetime value. It enables retailers to execute enhanced, highly personalised marketing campaigns to acquire new customers, customise offers for new products, and deliver highly personalised engagements that customers increasingly demand – all with faster turnarounds and lower costs. Unfortunately, as almost any retailer can attest,
poor data quality across customer acquisition, cross-sell/upsell, and retention campaigns is a
“Almost 50% of UK consumers are more likely to purchase something after engaging with a knowledgeable store associate.”
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