Insights
Real experiences and insights that shape outcomes
Digital adoption in retail has crossed a critical threshold with the majority of consumers opting for online purchases. The rapid growth in apparel and groceries led to massive automation by retail companies to stay relevant.
The automation areas are well-understood in digital adoption. The next trends are toward enhancing customer experience are gaining momentum.
Incorporating augmented reality into your eCommerce shop may provide your company with a competitive advantage over your competitors. Millions of buyers have utilized virtual reality technology to make online purchases. Most of them would make more purchases if eCommerce offered a virtual test to check a product.
With this innovation, customers may get a better visual representation of the goods they wish to purchase, allowing them to have a more enjoyable in-store experience. The retail business is an example of a sector that has benefited from this advancement in technological capability. Zara has begun to deploy it via reality models and a new eCommerce platform that displays life-size models dressed in the brand’s most recent collections. Because it is possible to purchase garments via the app, businesses may create online sales due to this.
In 2023, the fusion of physical and digital experiences is bound to pick up speed. Retailers should plan for significant new and continued investments not just to meet the current eCommerce needs but for the future as well. The buying habits of consumers are now dynamic, making them rely on technology and digital platforms increasingly.
For the next five years, retail leaders are optimistic about digitization prospects, such as voice commerce, cashier-less and staff-free shops, and the selling of digital goods.
Nearly 70 percent of retailers are planning to make moderate to major investments in digital marketing. This indicates that in addition to gaining market share by increasing customer outreach, retailers are making an effort to turn in-store shoppers into online shoppers. It goes without saying that shoppers are more profitable when you make them spend on both channels. Going forward, retailers should concentrate on speeding up their eCommerce success. Investing in digital marketing to increase website traffic and generate sales is a promising short-term strategy to get the ball rolling.
Given the major chunk of investments in digital marketing, retailers should explore the metaverse, creating marketing opportunities such as virtual product launches and events that will leave a long-lasting impact in the marketplace.
The minimal infrastructure needed for offering omnichannel experiences: Shifting customer expectations are making old eCommerce solutions outdated. Retailers should try and assemble a mix of traditional shopping patterns and omnichannel fulfillment activities. Having minimal and zero infrastructure enables retailers to invest in solutions focusing on operational efficiency and omnichannel experience.
In addition, a zero-infrastructure approach enables granular control over costs, security, data management, service quality, and applications. In a nutshell, retailers should concentrate on accelerating their ability to harness the power of distributed infrastructure and upgrading store technology.
Omnichannel experience provides a superior e-commerce experience for both buyers and merchants. To sell on marketplaces, stick to the tried-and-true method of investigating buying trends as well as consumer needs, concerns, and priorities, which are changing faster than ever in 2022. You can make all of your channels – including marketplaces – into a single purchasing experience by offering consistent information across all of your sales channels, high-quality visual materials, and a consistent brand image. It’s also crucial to give them a method to transfer across channels: from online ads to the marketplace, from social media to your virtual store, and so on. The experience can be built by mapping the information provided by the consumer via social media, and in-store/online purchases such as the birthdate/cell number/email address. This info is used to scan in the social profile and build a user profile of buying behaviors. Next, a consumer reach out happens with a single purchasing experience by offering consistent brand recall. Omnichannel sales and BOPIS (buy online pickup in-store) will continue to be an essential key to success and centers will continue to expand areas to assist in creating ease of experience for their customers.
The surge in online shopping will continue as many -and-mortar stores closed by the COVID-19 pandemic. Social commerce — native shopping experiences on a social media platform — offers shoppers an even more seamless way to shop online. Instead of clicking through to a third-party website, users can make purchases right from the social media app or site. Social commerce is on the rise. Shops are custom storefronts for businesses on Instagram and Facebook. Sellers can create collections of featured products and modify the look of their Shop with banners, images, colors, & buttons. The same Shop can be accessed from both Facebook and Instagram, so once it’s set up, sellers have the potential to reach a wide global audience on two platforms. The collaboration between Tik Tok and Shopify shall fuel the growth in the coming years. The expansion of Snapchat’s native store for brands is also fueling growth.
Consumers are the king and the experiences provided will be engaging and create loyalty and repeat business for the merchants. A consumer today consumes content from different social media throughout the day. A merchant can analyze this behavior to provide a consistent experience cutting across all social media platforms. They provide a virtual experience in-store. Combined with Buy Now Pay Later, in-store pick-up, and on-demand delivery the seller creates a unified purchase and fulfillment experience. This can further enhance the personalization of products and leverage the trust built via social commerce offerings.
Want to provide any of the above trends for your customers with enhanced brand recognition? Grep Digital helps retail companies to adopt the best technology in their business. Connect with us to partner in your digital journey.
Credits: Articles from Microsoft, ContactPigeon
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