With advancements in technology increasing day by day, the demands of consumers are also growing. Will the retailers be able to fulfill it?
FREMONT, CA: The year 2020 has just begun, and the retail industry is already experiencing significant changes in its way of working because of technological advancements.
However, with the rising advancements in 2020, retailers must ensure that their clients can seamlessly switch between offline and online by typing online marketing to offline actions, like in-store visits and sales. This will need the retailers to update their present digital arsenal with instruments that support client-focused objectives across sales, marketing, and customer service teams.
The following are some of the technologies that retailers must embrace this year.
1. Virtual Reality (VR)
VR provides retailers with the fresh and exciting technique of meeting increasing customer expectations for engagement and experience. Many businesses have already started implementing it to take their customers on virtual hot air balloon rides. This year, VR technology will be seen to be widely adopted by enterprises across the board.
2. Artificial Intelligence (AI)
It has been estimated that over 20 billion devices will get connected to the IoT by 2020. With more data collection, retailers will be amongst the significant benefactors of new algorithms coming to the fore for predicting trends, anticipating demands, and providing the customers with important content.
3. Customer management systems (CMS)
Optimization of branding via a future-proof CMS will help in creating engaging and personalized web content and also puts the enterprise in control of personalized, measurable, and experience-driven shopper journeys.
4. Product information management (PIM)
A PIM solution helps in making it faster and convenient to create and deliver compelling product experiences. A well-executed PIM strategy, in terms of the customer experience, can enhance content offerings via precise and timely product data.
Clients want to interact with the enterprises in real-time, and businesses are required to adapt rapidly to meet this demand. The modern chatbots technology is based on Natural Language Processing (NLP) software, which enables answers to be customized and sophisticated in comparison to the stock answers of the yesteryear.
The retailers certainly need to adapt according to the changing consumer demand. They need to employ strategically, connect the team, and optimize the buyer journey every step of the way.