Social media channels such as Facebook, Instagram, WhatsApp, are proving to be important marketing mediums for offline retailers
FREMONT, CA: The retail industry has embraced and adopted technological changes in recent years. The advancement of retail-tech and fintech has revolutionized the way small and big players run their businesses.
Below are five trends that will shape physical retail in 2020:
Adopting New Technologies in Retail
By adopting new technologies and implementing them, physical retailers can create superior pricing propositions and more extensive selection in-store, and improving upon conversion rates by offering better prices over an online platform with the collection of a vast network using technology. Retailers are also able to provide a more massive selection of products compared to all the online platforms put together with the help of solutions like virtual inventory.
Integrating AR & VR
Augmented reality and virtual reality are still not introduced at large in the retail sector. But, many home and fashion brands have been successful at using AR/VR technology. The next approach should be to explore the right level of engagement with consumers to provide an immersive shopping experience.
Sales through Search Engines and Social Media
The issue of discoverability on the internet for physical retailers has been prevalent for years. But retailers are now adopting technologies to be equally discoverable as online stores. Social media channels such as Facebook, Instagram, WhatsApp, are also proving to be important marketing mediums for offline retailers.
Better Customer Experience
It may be true that e-commerce has brought massive changes to online shopping. However, consumers across the world still prefer assisted in-store experience apart from touch and feel before making purchases. Taking advantage of this opportunity, many retailers are providing customers with an exciting and educative experience in-store for a guaranteed and informed buying decision. This has pushed small and big brands to focus on physical retail as their flagship channel, including investments in experience centers.
Retailers need to be available for their target audience both in big outlets and through digital channels with an integrated consumer outreach. With stiff competition everywhere, this approach is one of the most vital consumer acquisition and engagement strategy for all retailers and brands.
See Also :- Top Retail Solution Companies