Technology enhances the in-store experience
Smartphones, augmented reality and technology embedded in retail stores. Today’s technology never ceases to amaze, yet the adoption of technology that helps retailers connect with shoppers lags far behind.
It is this technology that will help ensure the success of brick-and-mortar retailers by enabling them to compete with online vendors.
Understanding the needs, wants, desires and buying journeys of customers and prospects is critical because it helps retailers develop and deliver a customized experience for each shopper.
Think of Amazon and other successful online retailers and their “products you may like”, wide selection, fast delivery and robust refund policies. They have embraced data to deliver a buying experience that meets their customers’ exact needs.
Brick-and-mortar retailers need to follow this approach. Through technology—such as indoor navigation & positioning, Wi-Fi and the analysis of traffic patterns—consumer data can be easily captured and collected.
Combined with powerful analytical programs, physical retailers can access the data required to create a highly-customized buying experience for each unique shopper—just as online retailers have been doing for years!
“Technology should bring the physical and digital together and connect consumers with retailers.”Stephen Lowry, Co-CEO, Westfield Properties
It’s time for retailers to adopt a new mindset that welcomes digital technology and data-driven insights.
1. Start with research and understanding. Property managers and brick-and-mortar retailers should begin by understanding how data collection technology works and how data can help them connect with customers.
2. Adopt a new mindset. It’s time to accept that previous retailing methods are inadequate for today’s connected customers. According to Stephen Lowry, property management firms should now think of themselves as “prop-tech firms” (property management firms that have partnered with technology).
3. Try new approaches and accept that minor setbacks lead to future success. Data provides the framework however, customized shopping experiences can be prepared in different ways. The key is to try new approaches, measure results, refine and test again.
“The winners of the future will be those who are transforming the customer experience through new technologies, digitizing operations, and putting in place the right people capabilities.”
Source: Capgemeni Future of Retail Store Survey
Brick-and-mortar retailers and shopping mall property managers who embrace technology will be able to connect with their customers and provide customized buying experiences that build sales and loyalty.
Those who fail to leverage technology will be see declining sales, falling revenue and an inability to compete with online retailers who have made the efforts to understand their customers.
MAPSTED CORP. is a Canadian technology firm that strives to be the global leader and provider of indoor positioning/location services.
Unlike other indoor navigation platforms, our ground-breaking core localization technology does NOT require Bluetooth, Wi-Fi or cellular connections. It can be easily deployed in multi-storey buildings, underground floors and other areas that are generally known as dead-zone locations.
MAPSTED offers a smart mall solution that includes geo-targeted mobile ads and comprehensive shopper analytics—all based on our leading-edge indoor navigation platform.
For more information visit, mapsted.com