What Offline Retailers Must Do to Enhance their Business in 2020?


What Offline Retailers Must Do to Enhance their Business in 2020?

Recently, small to big players in the retail industry have shown rapid adoption of technology, and it brought in massive changes in how they run their business. At present, retail remains one among the largest spread industries across the world and with the help of advanced adoption of technologies prevailing today.

E-commerce’s tides made an impact across the country, especially when it comes to shopping experiences. However, when it comes to big-ticket items and high involvements, consumers always prefer the in-store experience, which provides that touch and feel before confirming their purchases. Experiences will bring customers that belief and retailers use this opportunity to offer an engaging and educative experience to convert it into a buying decision. Brick and mortar retail is therefore driving the small and big brands to invest more in building experience centres.

The trend in the current retail market shows that shopping through social media and mobile apps will be growing with more extensive Internet penetration in the country. Millennials prefer to buy products they discover on Instagram and Snapchat, while 25 per cent of the baby boomers shop on social platforms, according to BigCommerce’s Report 2018. Now with the help of data analytics, brands can learn and understand the likes and dislikes to increase the sales.

Competitors from across the world are targeting the next potential customer, and hence, creating an active brand name is hugely influential in building the business. Retailers must make sure that they will be available via digital channels with a combined consumer outreach. Omni-channel will be becoming a norm and it will be one of the most key consumer acquisition and engagement strategies for all retailers, big or small.

In the coming years, AR and VR will be fully leveraged by the retail sector. Currently, many furnishing and fashion brands have observed success using these upcoming technologies. With the increase in the level of engagement, AR and VR can prove its worth with an immersive shopping experience, which would take it to a whole new level.