Retail CIO Outlook Weekly Brief
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Retailers are looking forward to new trends in the market so that they can enhance customer experience and stay ahead of their competition.
FREMONT, CA: The retail industry has started generating and applying next-generation marketing strategies so that they can enhance the consumer experience shortly. The customers already have immense control while they purchase their required items as they can do that from any place and at any time. Therefore, to stay in the game with the consumer-centric trends, the retailers are expecting their marketing teams to develop a memorable consumer experience by utilizing the highly-modernized data-driven marketing analytics.
Retail Trends
To stay ahead of the competition in the market, the retailers must meet their customer demands, and they can achieve that by utilizing the advanced marketing analytics software. The data will provide the retailers with customer-centric strategies, which the manufacturers can use to develop their products, and the sales staff will understand the best way to communicate with their customers.
1. In-Store Technology and Analytics
Technology can also be advantageous for the in-store experience of a shopper by enhancing customer loyalty. For retailers, there is various processes in which they can use technology in the in-store department, for instance, utilizing location-based marketing through a retailer’s loyalty app that will showcase the accurate location of the products in a particular store. They can even use technology that will display the journey of the consumers in the store so that the retailers will know the amount of time they have to spend in-store.
2. Simple Experiences with Personalization
In the retail industry, personalization was the fundamental process of its innovation. According to the trend, the retailers will use personal information for generating advanced and straightforward shopping process instead of utilizing the customer’s data to send them advertisements. The retailers will start utilizing personal data of their targeted customers, such as their needs, values, and likes, so that they can offer relevant experience.
3. Reduce Delay
Earlier, the online shoppers used to believe that they must wait for weeks to receive the products, but now the customers want the online retail stores to fulfill their demand as quickly as possible. Therefore, retailers must work according to the trend by developing processes that will allow them to cater to the customer’s demand. To do this, the online stores have to forecast the customer’s need by keeping track of their purchase cycle within the market and maintaining a stock of the products.
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