http://www.retailnext.net | Consumers are using new technologies on the web, in the store, and through social media – creating a whole new shopping experience. If retailers want to keep up they are going to have to stay ahead of the curve; we explore the way technology is changing and how to utilize the latest methods.
T HE S TORE OF T OMORROW IS T ODAY NEW TECHNOLOGY IS REDEFINING THE SHOPPING EXPERIENCE With technology moving so fast it’s clear that the way we used to do business is a thing of the past, and the companies that apply these new technologies to their consumer-centric models will have the edge. On the following pages, we are going to explore how technology is changing the way we do business. The Change is for Good The technological advances in recent years are moving very rapidly and altering the entire way consumers and retailers are doing business. These new advances are quickly becoming the status quo, whether they are being accepted by the buyer or utilized by the seller – we are all moving forward together. Today’s consumer is empowered by resources online and on their mobile devices. Technology has given the consumer a very strong voice; consider review sites, like Yelp and Trip Advisor, or social media sites, like Facebook and Twitter. These sites – and their influence – are a phenomenon that has emerged within the last decade. T h e P o w e r S h i f t Retailers must realize they no longer operate in a bubble – negative reviews are no longer reserved for close friends and family; they are shared with the world. It is important for retailers to be proactive by monitoring how their brand is viewed, and by addressing and handling consumer complaints. What the Shift Means… The Decline of Single Channels Consumers no longer think in channels, such as online or in-store; consumers think in terms of an experience with a brand, a product, or a service, no matter where they were engaged. This is why the term “omnichannel” has become so big – all your channels need to feel unified and consistent. Mobile technology has taken the veil between online and offline down – consumers are browsing online while they are browsing in-store, trying to find the best deal. Knowing that most consumers are on their mobile devices gives retailers the ability to engage them and collect important information about their purchasing practices. What the Decline Means… The Rise of Retail Data With consumer purchasing now omnichannel it is more important than ever for retailers to know and understanding their consumers. Obtaining and analyzing retail data is paramount to operating a business in today’s technological world. What the Rise Means… With technology becoming so sophisticated, retailers are turning to technologists to help them collect data that once was an impossible feat. Retailers need to remain at the forefront of online and mobile technologies while collecting, analyzing, and utilizing in-store data to merge their ecommerce and brick-and-mortar operations. A consumer-driven, omnichannel business is the future, and that future is now. The leader of big data and in-store analytics, RetailNext has extensive knowledge about consumer behaviors and store performance. They can help businesses create more foot traffic and increase profits. For more information, please call: (888) 609-5877 Or visit http://retailnext.net/. Contact Us I m a g e A t t r i b u t i o n s Slide 1 Photo “1370148” courtesy of http://www.freeimages.com/ Slide 2 Photo “1386462” courtesy of http://www.freeimages.com/ Slide 3 Photo “1379920” courtesy of http://www.freeimages.com/ Slide 8 Photo “828567” courtesy of http://www.freeimages.com/ Slide 9 Photo “1336617” courtesy of http://www.freeimages.com/ Slide 10 Photo “828569” courtesy of http://www.freeimages.com/ Summary Consumers are using new technologies on the web, in the store, and through social media – creating a whole new shopping experience. If retailers want to keep up they are going to have to stay ahead of the curve; we explore the way technology is changing and how to utilize the latest methods.
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