The smartest players will take advantage of their physical space and use it not only as an important customer acquisition channel, but as the invaluable data gathering method that it can be. Investing in the right analytics capabilities can make or break a retailer in this time. The physical stores tell important stories of your customers’ shopping habits, lifestyle and preferences. With the help of face recognition, they can even show you who they are, and how they react to your products.
The power has been shifted from the vendor to the customer. The information is already there, available for everyone to find – now it’s up to the retailer to ensure the customer finds what they’re looking for – and to make it frictionless. AI will play an increasingly important role in personalizing your customers’ shopping experiences and offering them solutions your physical resources simply would never scale to. Winners will be those who can harness their AI to leverage existing customer data to offer exquisite customer experiences, regardless of the channel. By placing the customer in the center of your operations goes both ways: you will be able to reach out, communicate and influence your shoppers from a multitude of channels. Making use of the invaluable customer data that can be gained from various touchpoints, and leveraging it to create the most convenient customer experiences, will be a killer combination.
We’re excited to be part of the disruption that is taking place in retail right now and to be able to cater for the new, rising opportunities of the future omnichannel environment. Stay tuned for our next key take-aways from NG Retail Event in Scotland!