Retail Is Getting Smarter
Through the use of smart retail solutions, brick-and-mortar stores are learning how to compete with e-commerce giants such as Amazon. Artificial Intelligence (AI) technology monitors customer activity in real time, giving managers the ability to nurture leads more effectively.
Even though retail stores haven’t physically changed much over the years, radical changes have occurred internally because of digital technology. Today’s technology identifies buyers through their smartphone, making it easier for the retailer to provide personalized customer service.
Using smart store analytics, retail stores can improve customer engagement and customer experience by optimizing store layouts, product placement, and even sending the right sales associate to the right location at the right time. These are cornerstones of the smart store business model. Using smart technology to improve customer experience is a winning strategy to improve customer loyalty and increase sales.
Making a Store Smarter
Accommodating consumer demands for new shopping experiences that give deeper insights into products, also known as engagement marketing, is a top-of-mind retail trend. The key to making retail smarter is to connect all store and consumer touch points so that real-time monitoring is possible. The more the store engages with the customer, the more data is generated.
One way to win a consumer’s heart by leveraging this data is offering a coupon via their smartphone. Retailers can deliver dynamic customized content – a targeted relevant promotion – and encourage customers to immediately interact. Having access to real-time actionable data gives a store a competitive edge over others who aren’t using smart technology.
Shopping Experience Matters
Memorable shopping experiences make for better conversions in a physical store. Retailers using real-time data are able to analyze the shopper’s journey and study this data to determine how to optimize experience to increase sales.
One of the reasons shoppers still go to brick-and-mortar stores is because of the high-touch shopping experiences; the ability to see and touch products, the interaction between associate and shopper, and an inspirational interactive shopping environment. Those shopping experiences make retail stores a great setting for conversion. Smart retail solutions are now a part of supporting customer engagement, and when added to the high-touch shopping arsenal, they can help retailers improve the customer shopping experience.
Improving the Shopping Experience with FastSensor
The more retailers get insights into what their customers want, the more they can craft relevant experiences. Powered by artificial intelligence (AI), FastSensor provides unique insights for retailers. The platform provides important information on consumer behaviors from engagement to purchasing patterns. It tracks detailed customer behavior and provides real-time data such as dwell time, loyalty, heatmaps and conversions which are accessed in a user-friendly dashboard. It does not require opt-in or a downloaded app.
The New Normal
The data and actionability provided by smart retail solutions are now a vital part of the tool kit to equip decision-makers in adjusting retail strategies. They have changed the way we identify and understand the needs of shoppers so we can optimize their experience and capture their loyalty. These new tools are now a necessary part of the retail landscape, since alternatives are just a click away. Contact us today to learn more about how our smart retail solutions can give your business up to the moment customer insight.