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How technology can boost event based sale activities!

The article throws light on how support of technology and software can help retailers convert business during sales. The view is to be shared both with regards to EOSS and Event specific sales like Republic day, Valentines day etc.

Tags: sale, Eoss, omni-channel, Capillary, technology,

BY Guest author  |  Mar 01, 2017  |  comments ( 0 )  | 
How technology can boost event based sale activities!

There is no denying the supremacy of technology in the retail sale segment with both online and offline business scaling to new heights with it. While, appreciating or acknowledging the exciting opportunities ensued by major market changes and shifting landscapes could be difficult, retailers today are absorbed in harnessing the power of technology to further scale their businesses. A lot of retailers are feeling the heat and are getting bogged down by the pressure of keeping up with the constant evolution of the digital space fueled by rapidly advancing technology and elusive customer preferences. Though there are some retailers yearning for the good old days with the simplicity of traditional print promotions, digital promotions are here to stay and are indispensable to personalized marketing mix – especially in the omni-channel retail environment.

Despite those yearnings for minimalism in marketing efforts like in the olden days, industry players understand that digital promotions have the potential to provide far more opportunities in return of all the efforts.

Driving in-store sales through Omni-channel promotions 

Omni-channel promotion that was initially used only by online retailers to drive sales, offline retailers are also slowly catching up with the trend to drive and track in-store sales. While there are many retailers adopting Omni-channel promotions and marketing, there are very few who are actually using these promotions to drive in-store sales.

Moving forward, the adoption of technologies that interact with the physical world and proliferation of wearables is slowly exposing the industry players to a whole new world of technology in retail and changing the existing perceptions. Technology has managed to counter discernments that relegate digital promotions to online sales only. These technologies allow retailers to dole out targeted promotions and offers to their shoppers based on their in-store location and proximity of certain products. Likewise wearbales allow consumers access to highly relevant content pertaining to their shopping needs while carrying a basket or pushing a trolley.

Actionable Insights impacting the ROI

If we have to conduct technology innovation analysis in the past few years, Data and Analytics are by far the best that has happened to digital promotion and sales space. These are not those prolonged and passé data spreadsheets that bog marketers down; but these are actionable insights. These insights help them understand and keep a tab on their sales and offers and realign or re-adjust campaigns before they incur loses and becomes a flop show. Additionally, just few years ago consumers used to be swarmed with the same offer at least three to four times a week. However, now with the advancement of technology, the number of such messages has lessened, as retailers integrate CRM data into their promotions campaigns and move toward real-time offer testing. Although not present in India yet, there are many other countries that have adopted data and analytics and improved their customer’s in-store experience as well. Technology that analyses a customer’s shopping history and heat mapping allows retailers to map out individual customers’ paths through the store. Such features have not only optimized shopper flows, but have also helped in cutting down long queues at checkouts and have aided in improving in-aisle promotions.   

Mobile and Connected cars transforming retail

As per some reports floating on the internet, people spend almost 15 hours a day on their mobile phones, which is also driving nearly half of retail offer traffic. Considering the year – on – year growth, combined with the infusion of smartphones in market indicate that smartphones will continue driving such growth. While retailers are still struggling to invest in the operational technologies to support this trend, many have found respite in their store apps as immediate solution. Mobile apps that allow customers to redeem offers and check – out on their mobile device, while in the physical store may become increasingly popular.

Likewise, yet another mobile wonder that has future implications for retailers digital promotions is automobiles. As the newer generation of vehicles incorporates more consumer technologies, such as Bluetooth, wireless internet, GPS and voice recognition, there are a number of opportunities to use machine –to-machine technologies to proactively push promotions and sales to customers based on their vehicle location. Simplifying the aforementioned, technology will soon allow stores to communicate with the in-car computers to welcome customers and offer better parking and other perks based on their shopping history. 

With such constant advancements in technology, we are reminded that the only thing constant in this world is change and introduction of new retail or consumer technology is slowly changing the retail landscape. Having said that, there is no need for marketers to feel the pressure of keeping up with every trend they hear or read about, however, their outlook on technology should definitely not be clouded by their inhibitions.                                   

Welcome to the future of {Intelligence + Omni-channel}!

The article has been pen down by Abhijeet Vijayvergia, Vice President and Business Head South East Asia, Capillary Technologies. 

 

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