The customer in the retail sector is increasingly demanding. Fortunately, current technological innovations make it possible to satisfy this demand. One of the trends in digital transformation is focused on offering experiences with greater personalization, based on the data of the clients themselves, such as where they go from the store or what they usually buy. These types of solutions are necessary.
Traditional commerce in physical stores is still very strong and prevails in the face of digital commerce, which continues on an upward curve. But he still has a long way to go to reach an important quota.
Even so, traditional commerce must take advantage of new technologies to maintain attractiveness and not lose competitiveness and the position of advantage it has over its online counterpart.
Therefore, as pointed out by the IBM study, 62% of retail companies say that the use of information collected (including Big Data) and analytics has offered them a considerable competitive advantage.
The approach that retailers are having to Big Data is as pragmatic as possible, identifying the requirements for the business first and then designing the infrastructure, data sources and analytics to support that business opportunity.
The notion that, in an economy where the consumer is in an empowered position, retailers must take advantage of all the information gathered to gain a deep understanding of markets, customers, products, points of distribution, competitors, employees and much more.
The customization of the customer experience
The client increasingly demands more services and more comforts, which forces stores to reinvent themselves or die in the attempt for high competition in the sector. Therefore, it needs to feel unique and not receive bits of information that are noted that are generic and are aimed at a large audience.
This type of customization is much easier in the digital sphere, thanks to complex algorithms that analyze the behaviors and likes of consumers and offer related recommendations according to the purchases made and their wish lists. But many companies have already implemented various solutions to offer a personalized experience to their customers in their physical stores.
For example, Mall of America, located in Minnesota, is the largest shopping complex in the northern states of the United States. To prevent people from getting lost, they have installed a chatbot, called E.L.F., which helps design itineraries for each client according to their interests and needs at that time.
For its part, TopShop collaborated with Twitter to analyze trends in that social network in real time. Thus, customers could tweet their favorite products with the appropriate hashtag and the store returned the message with a selection of the best offers according to their likes.
Not all attempts to bring personalization to customers have been made outside our borders; there have also been others with important companies that have been implanted here, such as the El Corte Ingles case with its indoor mapping solution. Its objective is to analyze real-time data on consumer behavior in closed areas and, of course, improve their experience.
This solution of indoor mapping is responsible for solving a series of questions, whose answers are very valuable for any trade and thus go modifying from small details to the general strategy with all the information collected.
These questions, among others, are: How do people behave inside a shopping center? Where do they spend more time, in which stores do they entertain themselves the most? What are the busiest routes in each campaign? What are the most visited destinations in shopping centers?
Decision making is an essential aspect when leading a company, no matter its size, and the only way to improve in this aspect is to have more information and that it is of higher quality. You can even go further, and thanks to being in real time, decisions can be made faster if it is urgent. Otherwise, this type of change would be made worse or too late, with the consequent damage.
What you get with these types of solutions is to obtain the same information that would be obtained from a user who visits a web page, from which you can easily know what products they are looking at, how long they do it, what sections they visit, etc. In real life it is a bit more complex, but it is still possible.
In short, the digital transformation applied to the retail sector is helping to create unique and personalized experiences for the user, thus improving their satisfaction with the trade they go to. The information acquired by each company needs to be analyzed and processed to bid an offer according to their likes and needs.