THE INSPIRED HOME SHOW RETAILER FOCUS
Over-reliance on AI could easily lead to buying experiences that are uniform across a great swathe of retail, undermining both brands and sellers. When everyone digs with a spade, one hole looks much like another. To avoid this, retailers must develop significantly more robust visual experiences for customers and leverage AI to deliver the right message and visuals at the right time. When companies get this right, the results can be very powerful.
Brands that use AI to predict what someone wants and couple this with robust imagery that showcases products in a compelling way will win.
“Brands that develop compelling imagery, innovative product lines, and daring collaborations designed to evoke an emotional response will ultimately win long-term customer loyalty.”
Balancing art and science to connect with customers in retail Moreover, retailers need to provide seamless and personalised experiences across all channels to stay competitive in today’s market. McKinsey & Company research has shown that 81% of consumers now browse across multiple channels before making a purchase. This shift to omnichannel shopping has been embraced by all age groups, from Gen X to baby boomers, who appreciate the convenience of shopping online, in-store, and through apps. By integrating these channels,
brands can provide customers with the convenience they crave while creating a cohesive shopping experience. Retailers have begun investing in new hyper-immersive technologies as shoppers move from the offline world of physical stores to online e-commerce experiences. At Nfinite, we launched Dynamic Display, which allows online shoppers to mix and match furniture and home decor accessories with a click of a button. By allowing customers to decide on the best configuration for their personal tastes, they can not only have fun shopping online but also have the power to make informed decisions. The results have been impressive, with a 49% increase in sales conversion rate and a 2.8x improvement in repeat customer engagement. For similar reasons, retailers and shoppers alike are also embracing augmented reality as a means to bridge the online world with the offline world. This technology meets shoppers where they are because it works with any smartphone camera. In our latest Shopper Sentiment Report, we uncovered that 50% of shoppers said they are more likely to purchase a piece of furniture if they can visualise it in their space using the camera on their smartphone. Overall, as brands embrace emerging technologies, expect to see
more immersive and personalised shopping experiences as retailers harness CGI and AI together. Retailers must balance these new technologies with a human touch that evokes emotion and builds long-term customer loyalty. The most successful retailers will be the ones that combine art and science to create compelling and powerful experiences for shoppers across all touchpoints.
as opposed to doing multiple washes a day in a smaller washer.” “On the other hand, we typically say that a refrigerator will use the most amount of electricity in a household as it is required to be powered 24/7, to avoid defrosting and risking any foods or liquids going mouldy or past their best. There are, however, many ways in which you can reduce the energy consumption on your fridge or fridge-freezer, without having to switch it off. For example, by ensuring your refrigerator appliances are set to the optimum settings or not leaving the door open for longer than necessary. It may sound simple, but many homeowners don’t know how much energy any of their appliances generate – in fact, lots of people are causing more damage than good when it comes to switching up their household chores and appliances in their efforts to cut down on energy bills. Some may be cutting back on dishwasher usage to prioritise washing by hand, yet if that requires multiple bowls full of water with a lot of dirty pots, the dishwasher can be the better option,” he adds. Transparency
“Businesses can absolutely provide help on the cost-of-living crisis on its website and through its customer service to ensure support is available when needed. By providing transparent information on energy usage, costs and energy savings, consumers will have more trust and loyalty to these brands and will likely return to purchase later down the line,” says Bhatoye. “Unfortunately, the cost-of-living crisis is not going away any time soon, and we predict that in 2023, consumers will be looking for even more support from businesses in the year. In order to stay ahead of the
housewareslive.net
housewareslive.net
“Right now, it is our number one priority to help the nation to understand how to best use their appliances.”
curve, retailers and suppliers should use their voices of authority to put out clear, concise, and transparent messaging to their customers, to let them know that there’s support there for them. Consumers understand the importance of analysing energy usage on their appliances and will be making much more considered purchases than in previous years. Therefore, businesses should be prepared to work collaboratively with consumers to help them understand energy usage and find the best solutions for their purchase needs. It could also be that shoppers look more towards high-street retail purchases, feeling more peace of mind and confidence shopping with the support of a sales assistant,” he concludes.
January/February 2023 | 17 June/July 2023 | 17
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