Retailers taking advantage of technology for a variety of functions
Technology has been making consumers' lives easier for many years, as individuals can use computers and now mobile devices to access bank accounts, keep in touch with others and shop for retail products. Merchants have begun taking notice of this increasing technological trend and are doing two things – first, they are implementing systems that accommodate customers who prefer to use their devices to browse for and purchase items; and second, businesses are incorporating solutions that enhance their own operations. Whatever the reason, technology is helping to boost retailers' strategies, whether they pertain to customer satisfaction or improving internal processes.
Data collection, mobile are top priorities
With the emergence of technology has come the ability to capture a plethora of consumer information through websites, mobile applications and in-store programs. In fact, this method is one of the top trends currently being seen within the retail industry, according to research by RetailNext. When it comes to collecting data from shoppers in brick-and-mortar locations, 60 percent of merchants surveyed stated they have significantly increased their efforts to do this in the past two years.This is helping them to create better marketing campaigns and connect more with patrons.
There are other technological elements on retailers' minds, the study revealed. Sixty-two percent of respondents said that omnichannel operations is a main focus for them that they will be using systems and solutions to accomplish in the next five years. Offering mobile POS options in their stores was cited by 48 percent of companies, while 43 percent said they will also be giving more attention to Big Data.
These answers show that technology will be increasingly used over the next several years within the retail industry so that businesses can improve their operations and offer more personalized and effective services for their customers.
Technology creates streamlined experiences
Perhaps one of the biggest advantages of utilizing technology is the fact that the various systems and solutions can streamline customers' experiences no matter on which the channel they interact with brands, writes Retail Digital. However, building multichannel experiences requires some time and effort from businesses, but it is made easier with the help of technology. The source explains that analyzing data about consumers and their preferences gives companies the ability to improve their operations, whether in the form of more knowledgeable employees, better organized storefronts and websites or listing up-to-date product information.
