Upcoming Trends That Would Drive Future of Retail

By: Retail CIO Outlook | Thursday, January 31, 2019

The retail industry is undergoing a rapid change which is making a direct impact on the customers. Retailers and service vendors will have to look up to upcoming ideas that will drive the future of retail or already have started so.

Domination of Mobile Devices

Mobile devices have dominated the retail industry in recent years. Almost every vendor has a mobile application that facilitates the consumer with an online purchase. The trend will continue to grow as retailers will have to transform their service to mobile devices for greater visibility and drive traffic towards them. Vendors will have to shift to mobile messaging services, although, the e-mail will continue to dominate still, messaging will also play a key role in driving sales.

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Technological Intervention

Customer decision making will have a greater impact on cutting edge technologies such as artificial intelligence, augmented reality, and virtual reality. These technologies will become a key player in driving customer experience as the marketing strategies developed through them will be data-driven. Data analytics tools enabled with AI will continue to provide better insights into customer needs, allowing retailers to modify their products range accordingly. Other technology-driven tools will assist buyers for easier and fluent purchasing experiences with recommendations, faster checkouts, and navigation both online and offline store delivering tailored services to each individual.

Voice Technology in Assistance

Voice powered virtual assistants have already made their way into homes. Vendors ready to embrace the technology will gain a leap in their business as virtual assistants are redefining the way people search and shop. Voice operated assistants have made search easier and automated, leading the cohort to make the purchase from the results obtained. For better visibility, retailers will have to analyze the voice search keywords to incorporate them in their portals. Mobile compatible websites will have an advantage as virtual assistants prioritize such websites. Voice technology can also be put use for providing in-store assistance, aiding customers with faster and convenient purchase.

Content Personalization

Content-driven strategies are driving sales currently, but it can be enhanced with personalized content. Marketers focusing over the same will be ahead of the curve in the proximate future. E-mails, messages, and pop-ups will only become more effective when they consist of personalized content persuading customers to make a purchase. Even buyers from across the world admit that such an approach convinces them to make a purchase.