User Experience in Retail Industry
Today the customer expectations are changing with the changing times. From fashion to retail to automobile, customers are expecting better shopping experience. Due to the ripple effect, if a customer has a great experience with a banking app, all of a sudden, he expects every retailer to offer something similar in terms of a digital wallet.
If we look back at the evolution of retail the experience of shopping for the customers have been changing on a regular basis. From a normal retail store to brand store to online shopping and now the experience stores.
The Next Big thing in retail: Experience Stores –
Retailers looking to cement customer loyalty in today’s digitized economy must create customer-centric shopping experiences. This requires a holistic strategy that uses emerging technologies to curate personalized customer experience journeys.
In an age where players like Flipkart, Amazon etc. are enabling people to purchase products with a tap of a button, brick-and-mortar retailers need to step up their game and offer experiences that people can’t get online or on their phone.
Retail stores needs to grow globally with the intent of capturing the customer imagination and providing them with a digitised experience.
Experience stores are picking up trend and retailers are not shying away from creating unique shopping experiences at stores. Walking into the stores is not just about touch-and-feel, try-and-pay any more. A relaxing corner with couches to read a book, a dietician to tell you what to buy before you pick up any organic goodies and a VR based demo of your dream car. The experience stores are now making shopping fun, and not just transactional.
One of the example is Amazon introducing Amazon Go - a scan and pay option which enables no check-out purchase for its customers. The technology detects when items are removed or returned to store shelves. The app automatically bills the customer with the help of card details saved in a customer’s account, when he exits the store.
Enabling AR/VR based retail experience
Goldman Sachs forecasts the market for AR and VR in retail will reach $1.6 billion by 2025. Today AR and VR technologies can be used online as well as in-store to make the entire shopping experience more real and personal to the user. Augmented Reality can be easily overlaid on any of the current day mobile devices. Pokemon Go is a fitting example of how AR can capture customer attention.
Virtual Reality is also proving a great fit for use cases where the retailer wants to put the consumer into a completely new environment, like behind the wheel of a car.
Alongside these retail technology trends, retailers are also investing in artificial intelligence (AI) and the Internet of Things (IoT).
Today, retailers are looking for ways to capture maximum information and gain a holistic customer view across various channels. Personalized experience solutions allow the retailers to curate delightful experiences that drive customer-centricity and increase brand value. Thus, it is also important for any brand to improve pre-purchase, purchase and post-purchase journeys of the customers.