A Better Way to Connect Between the Retailers and the Consumers

we can say that now there is a better connection between the retailers and the consumers which are supporting the retail industry in a very positive way. 

Let us analyze some easier tech trends that connect the consumers to the retailers.

Internet of Things

• The digital technology begins with the internet of things. Physical objects embedded with technology, which can collect and share data.
• well-known IoT retail application is the Amazon Dash button, a physical button that allows shoppers to instantly order such household staples as Tide detergent or Coca- Cola.
• In other IoT retail applications, store managers could use smart tags for real-time product pricing adjustments and retail businesses could use IoT-enabled sensors to automate manual functions like inventory tracking.

Online Shopping At Its Peak Time – Mobile E-Commerce

• Last year total e-commerce sales skyrocketed to nearly $2 trillion, up 9% from 2015, and online shopping continues to grow in sophistication. More retailers strive to imitate the immediacy and simplicity of Amazon’s one-click ordering.
• Companies are integrating online offerings with mobile payment gateways, such as Apple Pay, Android Pay, and PayPal so customers have no need to stop and grab their credit card to complete their shopping on their Smartphone. 

Artificial Intelligence in Amazon Go

• In the retail industry, Amazon has introduced a new tech Amazon Go, a brick and mortar grocery store concept using AI in combination with machine learning and mobile payment to eliminate cashiers and minimize long lines.
• Shoppers simply visit the store and shop for the items they need; the Just Walk Out technology detects what each shopper takes and charges their Amazon account after they leave the store.

Chat With the Computer – Chatbots

• Retailers are implementing more chatbot facilities so that the consumers can directly connect with them for any queries.
• Also, the Chatbots can identify the time when any customer requires a live customer support rep to address their issue more effectively. As the easy way to address the client problems!

Say Yes To Robotic Technology

• Amazon continues to invest in an army of warehouse robots. The e-commerce giant now has 45,000 robots allocated across 20 fulfillment centers, a 50% increase year over year.
• Amazon’s robots automate the picking and packing process at large warehouses, which boost supply chain efficiency, so online shoppers receive their merchandise faster.

Augmented Reality (AR)

• To make in-store navigation easier by helping shoppers quickly locate the products they need, home improvement chain Lowe’s will launch a new AR mobile app this month.
• The app aims to improve the in-store customer experience and free up time for associates to advise shoppers on home improvement projects. 

In Fashion, A Smart Way of Approach- Smart Screens

• The latest addition to the fashion industry is the smart screens. A smarter way of approach to life! In-store smart screens make the customer experience more shopper-friendly.
• That’s why retailers like Neiman Marcus use mirror technologies with radio frequency identification (RFID) tags, which allow customers to try on virtual outfits in different colors and styles.
•  Fashion retailer Rebecca Minkoff added text messaging and touch screen features in stores, so consumers can order drinks, browse the store catalog, and communicate with store associates.

Real or Virtual – Virtual Reality

• Virtual reality has already changed the way in which retailers and consumers are connected. In retail, VR can help shoppers explore new product possibilities.
• Home improvement companies use VR to give consumers a glimpse of what their homes could look like if they install the company’s products. For instance, Lowe’s used VR to create a remodeled virtual space for customers to explore.

Is disruption the new normal?

• True that technology had reduced the gap between the retailers and the consumers. Consumer goods and retail companies are learning that they need to better represent customers’ broader set of desires.

•  The few leading brands that have embraced social issues for many years will be joined by a much larger cohort. Evaluating potential risks and rewards should be part of an overall strategy as business model disruption is part of the new normal.

• In today’s retail environment, most if not all of the personal touch (better known as consumer engagement) that created the emotion that stamped our memory has been replaced with rewards and loyalty programs designed to keep us engaged and coming back to spend more.

• We can say that the true relation is developed from sharing experiences that stimulate emotions that make memories, the best way to connect retailers and consumers!