A few years back, a customer’s journey used to be a single trip to the store, but things have changed now. Brands are now using modern approaches known as phygital, which combines the best of both worlds. Phygital is a retail strategy that creates an exciting shopping journey with a combination of physical experience and digital technologies. It can provide a compelling benefit for both the seller and the shopper, as shoppers have the advantage of human touch as well as the convenience of the online world, and in the case of sellers, they have an exciting opportunity to harvest otherwise untapped customer data. Without further ado, let us look at the five Incredible Phygital Retail Technologies Shaping the World of Retail.
- Chatbots: Chatbots are assisting shoppers in making intelligent decisions about their shopping. For example, the chatbot can answer customer queries related to new collections, new brands available in the store, and customers can also ask for shopping advice. As we move into the future, chatbots are getting more intuitive and are enabling a better customer experience. Apart from providing customer support, chatbots are enhancing the impact of AI in Ecommerce through voice-based interactions with shoppers using NLP, Self-learning capabilities and addressing consumer needs more efficiently.
- Personalised recommendation: “Repeat customers spend 300% more money than one-time buyers. Return customers would also be likely to buy more expensive products or services.”, according to investopedia.com. In today’s competitive world, customers expect companies to cover their needs irrespective of the channel that they use. Stores are enabling personalised recommendation to customers by collecting customers preferences related to style or colour.
- Augmented Reality/Virtual Reality: Augmented reality is enhancing the customer experience like never before. Stores are enabling augmented reality and virtual reality, which can solve the problem of standing in queues for the changing rooms. AR and VR let a customer have a virtual try-on with many different variants available. This technological advancement increases sales massively, and it also decreases the return rate of unwanted products. It is thereby ensuring an efficient, personalised and excellent customer experience.
- Smart Mirror: A smart mirror is an outstanding new technology that many stores are using. For shoppers convenience, the smart mirror is present in the fitting room. Customers can log in their personal information in the smart mirror using the QR code, which is provided in the app or in email. By using a smart mirror, shoppers can request products of a different colour, size or different product to be brought to their fitting room. Shoppers can even share purchases with their friends; they just need to take a snap and can easily share it with a single click. The smart mirror enables the customer to make purchases and even deliver the selected items.
- Location-based push notification: Times have changed now. Shoppers can now receive push notifications based on their geographical location. This technology enables the sellers to track and send a notification to shoppers for nearby stores, making the shopping process more simplified than ever before.
In today’s competitive world, customers expect brands to cover their needs irrespective of the channel that they use, which makes it difficult for brands to satisfy the ever increasing demands of the customer. But, brands are now making use of technological advancement, which is helping them provide an enhanced customer experience to the customers.