Redefining the Retail Game with Technology

Technology | 7 minutes to read

30th May, 2018

The competition among retailers is becoming fiercer day-by-day and that too, on multiple fronts, be it the business models or group of channel partners or even the scale of technology adoption – the list is endless!

Today’s consumer demands a unified shopping experience and has an all-time high expectation for quality services.

In such scenario, omni-presence across the brick & mortar, as well as the digital landscape, has become a mandate. Probably this is the reason why merchants are no longer considered as the sole driving force for retailers as the string is snugly held by consumers also.

Reason for this is simple – In the past, merchants used to interact and persuade consumers for making a purchase, now the game has changed in totality as these consumers have undergone a tech-led makeover and today, they drive their purchase at their own will and comfort.

This is the age when social media and word-of-mouth can influence a customer community in an overnight. On the contrary, any traditional brand would have taken years to build a similar brigade of patrons.

 

What’s the Secret Sauce Behind the Change
Of course, it’s technology!

With tech and retail amalgam gathering momentum, there is a boom of newer opportunities for retailers which are disrupting the existing ones. Truly, it is making shopping way easier than before.

Advancements like virtual shopping assistants,in-store stylist robots, Artificial Intelligence-powered recommendation engines, bot-managed billing counters, visual merchandising etc. have altered the dynamics of retail like never before.

While all of this may not be in play at the moment, however, we have tread some path already and the way is being paved for the rest of the path as well. Rise in the usage of digital wallets, the upsurge in consumer analytics derivations etc. just upping the ante further.

Connection with Sales Enablement
From smart packaging and intelligent planogram adherence to faster supply chains and instant deliveries – every upgrade has set a benchmark in its own way for the entire retail realm. Retail has indeed come a long way and sales enablement tools play a significant role to define its new destinations and growth curve.

Let’s see some of the major sales enablement practices that leverage technology to redefine the dynamics of retail.

To cut the long story short – innovative technological methods are required to create a truly ‘wow experience’ for the customers.

With changing times, it is no longer sufficient to just rely on competitive pricing, in fact, a lot more hard work is required to build exciting elements in the overall customer lifecycle.

Brands should, therefore, acknowledge the shift and move ahead of the curve to embrace newer technological revolutions and in the journey, create some remarkable customer experiences.

 

One Reply to “Redefining the Retail Game with Technology”

  1. Great rundown of the latest and upcoming technology and how it’s impacting the retail industry. Some of the things I’m hearing about facial recognition software is crazy, where suppliers are able to act on metrics that indicate where shoppers eyes’ are lingering over certain kinds of items, packaging, and placement–and how these metrics can predict future sales. https://www.scorpionplanogram.com/

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