Technology has transformed how brands and clients communicate with
each other. Customers once depended upon in- store, face – to – face
interactions to make the purchases and therefore receive support. Now-a-days,
shoppers do research prior to entering the store itself.
In fact,it was revealed that 81% of the
shoppers did online market research
before making any purchases and therefore didn’t rely on the sales persons wholly
for making their shopping decisions.
Retailer shop keepers, for their
part have understood the need to embrace technology and how that can result in
to extending their storefronts to the customer’s fingertips. Shoppers can buy
from within their social networking apps and even compare prices without even
entering or leaving a store. While these technologies have driven the retail
industry to the digital era, technology that is still developing will have the largest
impact on the future of the retail industries as well as customer service.
Adapting the Big Data
More retailers are tracking their
customer’s shopping habits through data mediums like the social media, customer
preferences/ demands, shopping history and market trends etc. By depending upon
big data technology to achieve a deep understanding of the customers as well as
their buying trends, retailers can maximize their customer’s expenditure and
encourage shopper’s loyalty.
According to Market Research, 70%
opined that big data was essential to maintain competitiveness, while other 82%
concurred that big data was transforming the way how the interact and relate to
the customers.
Matching products with shoppers
Machine learning technology increases the reach of big data
analytics and can assist in creating an incomparable shopping experience.
Creative retailers can use the
power of technology by machine learning algorithms to do particular things like
determine available products from outside retailers or recommend the price,
quality standard, marketing channel or shelf life that would reach the
appropriate customer in the particular area.
Additionally, the ability to
automate everything through machine
learning and advanced analytics soon will mean that a normal customer
service will be executed by bots, which can predict customer’s needs and offer
service in the quickest and immediate way possible – i.e., by providing us
items we didn’t even know we needed.
Developing the back-end
Advanced analytics and machine
learning will not only change how we buy and proffer customer service, but also
simplifies how retailers perform basic operations. The machine learning will
ease up the monotonous work required to find a valuable insight within the pile
of data. With the assistance of these tools, the retailers can find usable data
to optimize shopping experience for the customers.
A digital assistant
In future, digital assistants
like Siri will learn more about us and incorporate itinto providing customized
product offers.
