When you shop, it’s not just the products you’re looking for, but also a glorious shopping experience. While data is definitely a game changer, let’s see how exactly it will have an impact on retail.
When retail meets BDA
Whether online or offline, retailers have always tried to get things off the shelves to the consumers’ carts.
It’s just that this time, they know the right cart to put the products into.
With big data analytics, personalisation has been possible to the point where the customers may not have to even look for the products.
Big data analytics is one glorious trick up their sleeves as consumer behaviours can be understood, making personalization possible in a way that they.
The connected device that is your phone, is called so for a reason. As more and more consumers own connected devices, their accumulated data will make it possible for the retailers to give them products of their choice, without having to choose.
The mall is where you are
When you have a mobile phone, anywhere you are is a shopping destination and anytime is shopping time.
Consumers spend a lot of their time on their phone. As mobile phones become omni-present, it ends up making other activities nothing more than a background action.
Shopping is one example, mobile payment is another. It’s become a mighty device that helps consumers pay for your purchase. For example, Apple Pay’s fingerprinting to payment is the ultimate example, erasing several tedious steps to payment.
Retailers are also able to filter through the cacophony of data to send personalized promotions in the device, hence sending an offer that consumers won’t be able to refuse.
Though involvement with mobile phone dissolves the need to actually going to a physical store, many companies are putting their space to innovative use.
Physical stores are playing in the advantage they have over online stores – sampling the products.
It’s not just about trying your shoes and seeing if they fit. Nike’s SoHo store and Adidas’ Midtown are offering spaces as big as half a football field. This is done in the hopes that customers will have a lasting impression of the products and create a personal brand awareness in the market.
On top of that is the prospect of digital assistants. As these AI-based assistants come on the field, consumers can expect a fruitful interaction, and the retailers, a perfect sale, because they will be infused with shopper data.
The walk down the retail aisle will be personalized and pleasant.
Sachi Mulmi is a researcher with Frost & Sullivan. She can be reached at firstname.lastname@example.org
Sapan Agarwal drives content and marketing for Frost & Sullivan. Sapan is based out of Kuala Lumpur Malaysia and can be reached at email@example.com | +603 6204 5830