Why should retailers keep Innovating?


1st January, 1970

Why should retailers keep Innovating?

This article will explain the reasons why retailers should keep innovating. The way in which consumers make purchasing decisions has dramatically changed throughout the years and one main reason for this is innovation.

Over the next year, consumers can expect retailers to start testing and releasing new technologies within their stores to change the shopping experience for consumers.  Listed below are 3 current ways retailers are innovating.

Firstly retailers are looking at innovations such as AI-Powered recommendations. This allows retailers to take advantage of advancements in machine learning, deep analytics and artificial intelligence for a more targeted and personalized shopping experience. 

Secondly, a new innovation retailers are looking at is called the Wallet Free Shop. Retailers are looking are looking at more ways to connect mobile payments with loyalty programs. Currently, retailers are looking at a way to link their loyalty programs with their existing mobile wallet solutions to give customers a convenient way to pay while also collecting loyalty points.

Lastly, a new innovation which retailers are looking at is Virtual Reality experiences. With this new innovation, customers can check to see if the newest style they like will look good on them before they purchase the item. The VR headset will allow the consumer to walk around the store to browse items and it has the capability to simulate a dressing room where the consumer can try clothes on which they have picked.

Why must retailers keep innovating? Well, retailers are now at a stage where they need to provide a personalised experience that can single out an individual shopper. In the upcoming year, you will notice that retailers will have new innovations within stores.

Want to learn more? Why not attend this year’s Executing Shopper Insights conference 2018. Executing Shopper Insights will be bringing the FGCG’S community together to exchange ideas and meet like-minded peers over the two days of exclusive case studies, interactive roundtables and panel discussions.

 Register today & Quote MK-BPA1.

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