Technology has long played a pivotal role in retailing. It has been the catalyst for change throughout retailing’s history. The new waves of technology have put more information at retailers’ disposal, providing an opportunity to be more in tune with customer needs.
OTSI specialties like IoT, AI, and Machine Learning are promising for the retail sector and can transform business. Extending superior customer experience and emerging technologies like AR/VR can offer a completely immersive experience.
Consumer service is crucial, regardless of your type of business, and is key to customer retention. Promotions are great for bringing new consumers, but consumer service is essential to the survival of your retail business. For deep personalization, connect all stages of the consumer lifecycle to collect data.
The big question is how to implement this transformation and handle the challenges.
Customers of fashion retailers want an immersive and interactive customer experience. According to analysts, the wave of digital disruption and tailored personalization require a faster time-to-market.
Customers need for localized, customized, and personalized experience will help specialty retail to thrive and grow. however, the arduous challenge is to keep pace with competition from the larger mass market retail counterparts who offer wider selection options and extremely competitive prices.
Grocery retail is becoming highly dynamic, competitive, and complex with the rapid transformation & digitization of customer purchase path.
Industry disruptions focus on personalizing innovative and convenient shopping experiences through in-store digitization, home delivery innovations, and even hyper-local sourcing.