Retailers are in a race to stay well-versed with the technology and ready to embrace AI-driven technology to enhance CRM. Let's have a look at what the latest advances in the technology-driven retail industry are.
Fremont, CA: With the breakthrough of technology in retail space, it's no longer unusual if users are carrying the world's largest shopping mall in pockets enough to make a purchase anytime, anywhere. Shopping is no more an activity that is restricted to a particular destination. Instead, it's something that is always on and has seamlessly incorporated into the spirit of consumers' day-to-day existence. Below are some of the latest technologies that help enhance the customer experience.
ML drives retail
The long-standing concern for retailers has been churning the amount of information obtained through the big data. Retailers should use machine learning algorithms so that they can look into the future and get insight into the customers' demand, to deliver what they want even before expressing the needs. In doing so, retailers will be able to manage product inventories as well as roll out the most effective marketing campaigns.
Retail and APIs
Technology enhances and finds themselves in-store purchase experience of customers. Land-based retailers are improving their businesses by gaining the information through APIs and then acting on it to evaluate a user's in-store behavior. Not only this, but it is also used to extract details regarding an order, its status and tracking, frequent buyer data, profile management, shopping history, and wish lists. Apart from offering retailers actionable insights to change their omnichannel strategy, APIs also create detailed shopper profiles through repeated interactions to help them deliver proactive and personalized outbound marketing and also tailored recommendations.
Omnichannel experience and retail
Omnichannel marketing services enterprises to deliver a seamless experience to the customers. This doesn't restrict them from where they are shopping using their phones, or desktops, or in a brick-and-mortar store. With so many people dependent using smartphones before going to in-store shopping, the actual call for strategic and informed product content has never been so vital. Omnichannel retail leaders should give precedence to the mobile experience- as it makes a difference between customers visiting your store primed and ready to buy or to leave frustrated and empty-handed.
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