The Future of Traditional Retail is Digital

Blog-post_2Introduction

The retail stores we know today are undergoing significant transformation. With a spike in the use of tablets and mobile phones among consumers in the developed economies, the rules of the game are changing rapidly. Brands are on a look out for newer ways to implement a digital strategy that helps bridge shopper engagement with product/service fulfillment. Moreover, new technologies are enabling retailers change brick and mortar store operations, giving the store greater flexibility and efficiency.

By utilizing digital technology, traditional retailers can now offer value-added services, transforming shopping into a comprehensive, enjoyable experience. The in-store technologies keep track of items purchased along with other relevant details, helping the store owner with real time inventory management. It also can help brands perform a inventory status on these stores and their relative performance vs competition.

Technology with added value

So how does embracing technology help traditional retailers engage better with consumers? To understand it better, its crucial to grasp significance of digital transformation. It revolves around the needs of the shopper, far exceeding mere digitization of the sales process.

Technology not only enhances the shopping experience it helps collect actionable shopper data and also serves as an extension of the brand. Once entering the store, advanced technology might be at work in ways most shoppers may not even realize. Mentioned below are a few examples of it precisely works:

  • Point-of-Sale (PoS): With a powerful contextual PoS display, brands can directly engage with end consumers reaching out to them with latest schemes/ consumer offers.Furthermore, it helps the brands track its performance and penetration in the real time getting a hang of consumer’s basket data and buying behavior in turn suggesting and promoting relevant products.

 

  • Display Technology: Digital displays helps get shopper attention. Digital signage’s enhances shopper experience because it informs them of assortment and promos and drives impulse purchase. In a dark and poorly lit traditional store environment, the bright screen serves a brilliant purpose of visual disruption. Its also low on energy consumption and makes a great choice to display brand’s message.

 

  • Mobile Application: A mobile app is an excellent way to improve the shopper experience and it also acts as an extension of a retailer’s brand and offering features. The various possibilities of a having an mobile application include in-store engagement and special offers via push notifications; customized shopping experiences; and mobile payments from shopper devices.It has been widely observed that retailers with mobile-friendly sites have a greater brand visibility, more sales, and higher website traffic.

Omnichannel presence

In today’s environment, it’s not enough to deliver a great online experience; one has to strive to give the shopper a reason to come to the store too. It is important to blend the physical and digital worlds to create personalized, ongoing dialogues with consumers. Leveraging every other opportunity, be it in-store or online- helps in nurturing the relationship. Regardless of what products retailers offer, the standard expectation of every traditional retail experience is to deliver personalized experience catering to consumer tastes. The aim always is to use amenities found in the digital world to enhance the experience of shopping in a traditional retail outlet. This harmonious blend of the physical and digital world helps nurture the relationship between brands, retailers and consumers.

Conclusion

It is a truly exciting time to be a traditional retailer as they seek to capitalize on the massive changes in consumer behavior driven by mobile devices and digital technology.Traditional retailers infusing digital features into the store environment compete more effectively with their online counterparts. They can deliver better, more complete, shopping experience. The brands, on the other hand, that offer cohesive, personalized experiences with every interaction will be rewarded.

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