What’s in store for retail in 2015?
Progress in technology is increasingly noticeable in the world of retail and is creating a dramatic change in customer behaviour.
Here’s our top predictions for technology in retail for 2015.
1. Personalisation will become the norm.
In-store technology improvements will continue to add a level of personalisation to the customer experience. The use of tailored notifications of special offers and store-specific deals sent to customers via Bluetooth, depending on where they are in the store will gain momentum.
And the expectation of the 'always connected' consumer will increase the need to quickly engage at every opportunity.
2. Use of the mobile wallet is set to rise.
The ability for customers to view, order and pay online for goods and services from a variety of mobile devices allows the completion of a transaction in minutes, if not seconds. Increasingly, customers are being encouraged to sign up for payment solutions such as Bitcoin, Square Wallet and (later this year in the UK) Apple Pay. It is widely reported that almost 26% of all global transactions, during Q4 2014, took place on a mobile device.
3. Big data solutions will continue to grow in size.
More and more consumer information is being gathered - behaviour, demographic, location and purchase history is all information that can be analysed and used to define which products to promote and how to market them.
This data has to be stored somewhere and the requirement for big data storage and back-up is set to increase.
Security concerns will also be at the forefront of every retail business leader’s mind as consumers begin to push back on the amount of information that is being stored about them.
4. Social media will continue to influence this marketplace.
Most retailers are already taking advantage of social media, gaining feedback and connecting with customers. The advance in this area will be using this information in line with product development and marketing campaigns.
5. Omnichannel will continue to take retail by storm.
Already revolutionising the shopping experience, retailers are enabling customers to interact and complete transactions however they choose. A customer can view online, purchase on a mobile device and pick up in-store and the entire transaction is smooth and seamless.
Consumers in control
In years gone by, the manufacturers and product marketers were very much in control of pricing and distribution. Today, with review websites, price check tools and social media, it’s the consumer that is calling the shots. And retailers are realising to stay ahead of the game, they must be grabbing the customer’s attention.
To find out more, call us for a no obligation discussion on 03330 11 22 55.