How the IoT is transforming Retail Industry?

Retail IndustryTraditional brick and mortar retailers are facing a tough time competing against digital retailers who have engulfed huge pie of the retail market. Because of declining customer base and dwindling profits, more and more retail stores are closing their shutters. As more and more consumers moved from physical retail stores to digital stores; making purchases with the tap of a finger, the retail game has revolutionized.

Due to the tremendous growth of IoT and alter in shopping trends, the customer experience has become more important than ever. This led to explosive growth of ads from retailers inviting you to try their apps. There is a huge competition in creating the next big thing, which will offer the best shopping experience for the customers in the digital space.

Gratitude towards the internet of things (IoT) and its influence on connecting the digital and physical worlds in ecosystems of devices like computers and smart phones, the world of retail may never be the same again.

With useful insights from IoT devices, brick and mortar retail stores are now in a place to confront the traditional ways of doing business. Physical stores are now offering more personalized experiences by combining digital elements into the shopping journey.

Dawn of a new retail landscape:
Reputable retailers are now using both physical and online stores for a flawless shopping experience, in order to survive the stiff competition in today’s retail industry. From social media to TV advertisements and in-store promotions, IoT has assisted customers to cooperate with their business however and whenever it suits them. Internet of Things allows physical retail stores with the same capability for personalized and data-capture as digital stores.

Internet of technology will gradually modify the way the consumer shops and the way the retail stores do business. In future, shopping malls will be filled with sensors, from smart barcodes that provide customers with product insights to digital ad screens that make use of facial detection technology.

Improved shopping practices for customers:
IoT has offered retail stores with better opportunities to customized in-store shopping experiences for consumers. When Internet of Things is combined with customer’s smart phones, it provides access to helpful product information and can send customized offers for the customers.

For example, users can scan the products to get extra information regarding available sizes or colors. They can as well sign up for SMS notifications of special deals while in-store. Internet of things devices as well helps staffs to offer better customer service. A sensor placed near the cash counter can be programmed to trigger an alert to an employee’s smart phone once a consumer has been positioning there longer than 30 seconds, as per a market research reports.

Internet of things devices assist the retailers to offer faster help to customers thus improving the whole shopping experience.

5 e-Commerce Trends for Business Marketing

e-Commerce5 e-Commerce Trends for Business Marketing

The present-day scenario does not require a consumer to visit multiple brick and mortar stores to touch a commodity and feel its quality. They are all available on online one with a guarantee for quality and offering much more savings for the customer. With many products being placed in a single virtual platform, comparison of the various specifications of a product, including costs, becomes easier.

As the consumer-oriented market and digital technology has progressed, the e-commerce market has developed over the years. Many B2C and retailers are heading out to impress the audience. They have new opportunities and challenges in the global competition. To fulfill customer demands, brands and organizations are renovated with planning to synch in with the trends of today. In the e-commerce real, there are some exclusive trends, here are five of the major ones listed below.

  1. Innovative Marketing Techniques

Marketing online has gained a nice status in the last 20 odd years. However, with evolving trends in e-commerce, the focus of promotional methods is also changing. Those with big data use and capacity are personalizing consumer shopping experiences and those who visit the website. Some brands are creating interesting videos and visual marketing to grab the attention of the people.

It is important to tell a story that customer can relate to or that of the service/product than just displaying all the essentials aesthetically on a page. Written and visual content has attained a level-up state in marketing today. Some of the plans to improve customer experience are sites stressing on lifestyle elements in order to bolster relations with leads and buyer, which are beyond only shopping.

Increase in loyalty programs and benefits of shopping with a facility to enable purchase over the internet or pick up in a store. This is why market research reports professionals never miss tracking customer behavior and SWOT analysis for the industry of the organization in the question. Which strategies will the firm take up now to keep the interest alive is something of a specialty.

  1. Enhancing Customer Experience

The web world or the internet has allowed people to set up their business online and take part in different industries. This has made companies go and seek ways to satisfy consumers and make them remain loyal. As customers have their own sole discreet as to which organization to stay with, companies are gearing to lend a keen ear to the needs and wants of people, and generate methods to meet them, if not provide additional benefits.

When something novel hits the market, there may be few changes in customer behavior. However, if the novel does not remain unique and giving, people soon lose their interest and may crawl back to the brand they previously preferred. Thus, companies are building practical and creative approaches to return experience to consumers than only purchasing experience.

When audience come back multiple times, means they are loving a bit or whole of the service/product. This is also a crisis every firm faces, as they never know which competition will jump out to strike them. One way to establish roots in consumers mind is to be there through thick and thin. Eventually, the age and reliability of the company do matter a lot.

  1. Worldwide Transactions

Mostly all the transactions for products over the global frontier are happening via websites. In turn, it is posing issues for local merchandisers. But even local merchants can invade the online world and take advantage of new clientele by selling their products/services overseas. As the internet is an open forum where customers and buyers can meet freely and note what are the demands, wants, production, and value for a product depending on the region, the global business of e-commerce has touched new heights.

The privacy and independence in such shopping experience is something people do not want to let go. In-store purchases have decreased, but those with physical trading points can also appear over the web and perform their tasks of buying or selling. The driver of e-commerce is seen in increased interest of people wanting everything at arm’s length. This has led to a rise in globalization, which has also supplemented the purposes of business portals online.

  1. Purchasing Over the Smartphones

Mobile phones, tablets, and smartphones are enabling access to the internet all around the globe and to everyone. Organizations that cannot produce a mobile-friendly interface or website lose on a lot of business. About 60 percent of the time on e-commerce is spent via a mobile device. Research also proves that a consumer may leave a site, which is not friendly to suit their mobile device.

It is important to adapt sites that can go with any smartphone or mobile devices so that the sales can be attained from anywhere, and whenever customer wishes to make a purchase. The real-time and quick purchase response is what people are looking for, realizing which the companies are also materializing this function. Thus, a firm needs a strong technical team to help them achieve success in the e-commerce world.

  1. Networking on Social Media

Strong social presence is what lasts e-commerce sites. Those with dominance over social media channels can score better than many entrepreneurs and business. There are start-ups growing to billion dollars within a short time all because of thought out social networking and social media retailing. The function allows shoppers to spend more time with the brand they desire, as everyone today is on social media channels. As per average statistics a Facebook user checks his/her account at least 14 times a day, becoming a powerful marketing channel and tool.

These trends cannot be overlooked, as e-commerce retailers are paying serious attention to their social status over the internet and publishing content, marketing campaigns suiting to their and customers purpose. With technology taking leaps, there is a huge opportunity for business personnel to boost their sales by taking up potential social tools and maximizing their reach to the audience.