Simple brick-and-mortar stores are no longer acceptable in the world of major retail. Digital storefronts are becoming a necessity, and disruption has almost become the norm as ecommerce continues to grow. While the retail industry continues to strive for an omni-channel customer experience, Software AG offered 10 disruptive trends in the world of digital retail. These trends can prove to be key differentiators for brands looking to set themselves apart.
1.Fewer Stores, More Stuff
Brick-and-mortar stores will shift roles to become more of a pick-up center for online orders. “Endless aisle” kiosks will allow all stores to offer their entire catalog of products at every location.
2.It’s All About You
With how much customer data is available to retailers, personalized customer experiences are becoming the biggest differentiating factor between retailers. Brands are expected to know their customers on a personal level, and to provide shoppers with a laser-focused experience based on their wants, needs, likes, and dislikes.
3.The Price is Right
In addition to personalized offers and discounts, stores will likely make use of real-time electronic shelf pricing and change prices according to inventory and labor. Much like gas stations, prices will update along with similarly dynamic online prices.
4.Mission Control for “Omni-Everything”
Customers expect to be able to engage with brands whenever and however they prefer, and retailers will need a program to be able to coordinate activity across these multiple channels.
5.You Will Meet a Tall Dark Stranger
Predictive analytics are the next step in customer insight, and retailers must make use of these tools to continue to provide tailored customer experience. Inventory, discounts, and customer expectations can all be (ideally) predicted and managed before any issue comes up.
6.The Internet of Total Satisfaction
The Internet of Things (IoT) is already exciting enough; sensors talking to machines, machines talking to other machines, all creating an optimized, more efficient world. The IoT influence reaches into retail, as well, and stores can use the technology to view inventory using shelf sensors, as well as make personalized special offers based on weather or, amazingly, even a shopper’s facial expression.
7.Immersion Therapy
Augmented reality technologies, like Microsoft Hololens, will soon change the way customers shop. Being able to virtually try on clothes or visualize furniture within their own homes will be more than just science-fiction. This can work to the store’s advantage, allowing real-time interaction with customers through the use of things like iBeacons.
8.Clean-up on Aisle One
Smart sensors provide unprecedented visibility of store needs, and can give information about popular items at any given moment, or even about a spill in a grocery store.
9.Buy Me Now!
Amazon’s “1-click” buying option has been a tremendous success, and other companies are working to implement similar features into their shopping experience. This is easier said than done, however, with extensive technological investment needed to make the instant buy a seamless process.
10.Last Item in Stock
Real-time inventory visibility allows stores to inform customers about stock levels. New technologies allow retailers to view inventories across multiple channels, giving them the power to monitor the status of all products, both in-store and online.