3 Ways to Revolutionize Shopping with Real Time Retail

iStock_000039461948_XXXLarge.jpgMobile devices have become pervasive in the customer shopping experience. Now that retailers have realized that mobile plays a key role in in-store, they are continuing to embrace in-store opportunities. By using the right tools and technologies, they’re able to monitor, track, and engage with shoppers in real time, a trend and challenge that brands embrace. Real-time retailing is revolutionizing shopping as we speak.

Transforming the Unified Experience

Real-time retail requires brands to deliver a seamless experience across all channels in real time to meet the ever-changing demands of consumers. This revolutionizing strategy is about creating a holistic, unified experience to consumers wherever and whenever by gathering, analyzing and circulating consumer, product, pricing, and inventory data across all channels. This, if done right, makes the shopping experience relevant to the consumer.

Real-time retail is transforming the same way the banking industry did by taking advantage of better network availability and security to introduce ATMs. Instead, real-time retail is leveraging advanced networks as part of the infrastructure to deliver a personalized shopping experience. By leveraging the most advanced and innovative technology, customers and associates are able to tailor the shopping experience.

More Retailers Want Mobile Point of Sale

In-store is introducing mobile devices in its setting, allowing retailers with an opportunity to better serve customers. By taking advantage of mobile devices, nearly 300% more retailers plan to deploy mobile point of sale into in-store strategies, enabling customers to make purchases on the spot in-store, according to a report by Boston Retail Partners.

MobilePOS brings the checkout experience on the sales floor and allows store associates help customers finalize their purchase decision. With mobilePOS, store associates can allow for more interaction with their customers rather than watching from behind the cash register and only starting the conversation there. Real-time mobile moments in-store saves out-of-stock scenarios with inventory information and pricing and promotions available at hand. According to a BRP survey, 91% of retailers plan to have real-time inventory available at the POS within 3 years and plan to implement customer transaction look up from any channel. However, for some retailers, these features and tools are already implemented.

Winning Brands Increase Geolocation Services

Successful retailers plan to increase the use of geolocation within the next three years to connect with customers in real time while in a brick and mortar store. Geolocation allows retailers to identify the geographic location of a shopper and then take immediate action. Geolocation can be triggered by shoppers who opt-in and identify themselves through a mobile app. For example, if your customer Kate is nearby your store, you can use beacon technology to send a triggered notification with a promotional offer in real time to encourage them to shop in-store. The strategy behind geolocation in real time retail is to help shoppers make better, faster, and more informed shopping decisions. And to take it even one step further, personalized content adds extra value for a relevant shopping experience.

Personalized Content Online Is Relevant

Real-time retailing online is also about serving the customer the content they need. A buzzword we constantly hear, personalization is the best strategy to provide relevant content to your customers. In a previous blog post, 3 Ways Data Driven Personalization Turns Losses into Gains, using the right data is critical. Retailers that are successfully delivering personalization are looking closely at the behavior of their customers. For example, tracking the number of purchases they make, how long they stay on your site, what they shop and search for, and whether or not they’ve interacted with you are valuable data to use. If your customer is always looking for beauty products on your site, but you give them content on jewelry, you’re not providing a relevant experience expect. Instead, provide some tips on beauty or showcase a beauty finder to help your customer find the right product. Ultimately, customers want to check out knowing they’ve found the perfect item.