After a whopping 2 day event with Over 350+ exhibitors coming together to bring you the latest trends in the market alongside conferences, demo theatres, launch pads and genuine business connections spanning around the world of payments, fintech, ecommerce and retail – we sure have a lot of updates to share from!
The points outlined below are the things we think will make the biggest impact on retail and ecommerce in the near future. So while robots, virtual reality, and 3D printing are all fascinating, in this post, we’re focusing on trends and tips that will yield significant wins for retailers.
Here they go!
Explore partnership opportunities
Forming partnerships will act as a facilitator to give an extra push to the roadblocks in your business. You really don’t have to R&D for any new concept integration in your business. Forming partnerships not only saves time but also a proportionate saving in terms of money and workforce.
The biggest challenge in online delivery is to deliver goods to the exact location and on time. For the timely delivery, the accuracy of the location is of utmost importance. The global logistics giant Aramex has partnered with what3words addressing system that names each 3mX3m square space with a unique 3 word addressing helping them enhance their last-mile delivery solution.
Digitisation of your company
Digitisation has become a much bigger challenge to retail business than we could ever imagine, and it should be embraced. The change begins between our ears. With the ever-changing world and impulsive customers, if we do not change the way we think and do business, Apocalypse could be at your doorstep!
Whether it’s revamping your business models, shopper engagements or retail processes, it is clear that retailers need to re-imagine their business processes.
Delighting your customers with Personalisation
Personalisation is data-driven. Data is been collected right from the time you step into the store until you checkout. The amount of data coming from this digital exhaust is quite incredible – be it the customer demographics, shopping pattern, store heat maps etc. But the whole story lies with how companies can actually process that data into meaningful information that can, in turn, help the retailers to give a personalised experience to their customers. This is where a lot of retailers fail. If done in the right way, it can reach a high level of personalisation for its customers.
Pepper – a humanoid robot developed by Softbank Robotics is an innovative and entertaining way to improve your customer’s experience. This robot is built on AI and can be programmed to behave the way you want it to. Pepper can be seen at Jacky’s electronics in the Middle East.
PHYGITAL everything and go Omni channel
Brick and mortar retailers have to grow online as well to have a seamless shopping experience. Along with having an online retail presence, stores need to invest in digitally transforming their physical stores.
Companies like VisualSoft who are ecommerce experts help retailers grow online. They help retailers grow online with smart marketing that attracts and retains customers and provide support to makes sure everything works smoothly and boosts your business growth.
Areeba has a strong vision to empower a Cashless world. They are a financial technology company that aims to improve businesses by providing smarter, faster and seamless payment solutions. This speeds up the payment process for customers.
Retailers need to explore the different areas in their stores where they can have a little digital touch to enhance customer satisfaction.
Social media marketing
You can call it Social media marketing or Blogging or Influencer marketing, all of these are required for online social presence of the retailer. We are in the era of social convergence! We eat what people eat, wear what they wear and follow what they follow – ofcourse, only if we like it!
It’s important to first find out your target social media platform which is right for your retail business. Being visible on the relevant platforms can leverage the reach of your business to a wider audience and generate potential leads.
To sum it all up – The customer is much more empowered than they were before and that empowerment is driving a number of behaviors that the consumers want from the retailer. It all boils down to convenience– in using offline, online or both; consistency- with respect to the communications between retailers and customer across channels; and more personalisation.