Technology is helping retailers now more than ever before. It’s become imperative for brick-and-mortar retailers to use any technology that can provide real value.
So, what type of technology brings this value?
Allan Haims discussed which innovations will be the most beneficial for these retailers:
For consumers, convenience and relevance are top priorities for driving purchases. On the convenience side, the ability to order online or via mobile and pick up in store offers value to shopper — not necessarily with lower prices, but rather with time savings.
Starbucks has taken this concept to another level and fully integrated loyalty initiatives with payment and personalization, giving customers the ability to pay with their mobile app and earn “loyal stars” loyalty program points at once. Customers pick up their pre-ordered items without having to wait in line (especially helpful during busy commuting times), and the app remembers their most frequent purchases to make it easier the next time they place an order.
Successful marketing initiatives like Starbucks’ program are enabled by gathering helpful information on consumer demographics and preferences, which requires consumer opt-in. Mall owners and retailers must amp up the value to the consumer to be successful in this effort.
Brick-and-mortar retailers that offer benefits such as free WiFi access, early notification of sales or extra loyalty points will be far more likely to gain consumer buy-in to provide personal information (including email address, birthday and so on). However, retailers should still offer a baseline benefit even if the consumer decides not to provide their data. For instance, a store may offer free internet access but give shoppers the chance to win a monthly shopping spree or double loyalty points if they provide an email address and mobile phone number.
This approach provides a friction-free option from the brand but still incentivizes shoppers to provide more information. If shared, the data can be used in generating personalized email and mobile offers, as well as to recognize the shopper’s mobile device the next time they enter any of the brand’s stores — building a database to drive further marketing efforts.
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