OMNI-CHANNEL TRENDS: Store of the Future Happening Now

Apr, 9 2015

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DIGITIZING THE STORE, MOBILE CLIENTELING, CHANGING RETAIL FORMATS AND DIGITAL MEETS OLD SCHOOL DIRECT MARKETING

The store of future is happening now. And it’s transforming the customer experience by way of mobile and digital.

While retailers have been experimenting with retail technology for decades, the “connected consumer” has arrived - courtesy of the Internet of Things (IoT). Smart: phones, wearables, homes, cars - you name it - have connected people across physical space and time -  in bits and bytes - forcing old-school retail to meet new-school. But here are three reasons why it really matters:

1  Personalized experiences drive loyalty.

A recent Infosys survey reported that 78% of consumers are more likely to be a repeat customer if a retailer provides them with targeted, personalized offers. Without it, 50% of customers will leave.

2 Consumers still prefer in-store.

96% of retail transactions happen in-store. A.T. Kearney shows that 2/3 of customers who buy online use the store before of after the purchase indicating that even in the case of online sales, retail interactions influence online commerce.

3 Digital leaves data breadcrumbs that pave the way to unprecedented insights.

Despite growing data breaches (43% of companies had some form of data breach in 2014 alone), consumers continue to express their interest in sharing their data in exchange for better offers or better experiences.

So what is the Store of the Future? Download the eBook to find out.

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