Have you wondered why a couple of online-only retailers like the giant Amazon are setting up their own-branded physical stores? Retail stores are still relevant in today’s business. Retail store businesses still account for over 90% of retail sales. The gap between physical and digital is narrowing down. More retailers are striving to compete for the attention of customers by investing in innovative retail technology to better their customer engagement.
Retailers are using in-store technologies to get actionable data showing them how customers are interacting with their physical stores, the sales staff, and the merchandise on sale. In-store targeting gives retailers a second chance to re-examine prospective customers visiting and leaving the store without making a purchase to determine the possible reasons for this behavior and take necessary steps.
In-store targeting helps retailers to build brand recognition. After observing customer trends, the retailers can tailor their products to the visibility of prospective customers to build the awareness of a target brand. Brand recognition helps businesses create trust among customers something that is critical in influencing purchase decisions for bigger purchases.
The possibility of cross-selling opportunities is high when retailers sell complimentary products. In-store targeting for one product can help a business retarget the same customer with displays that can influence the customer to purchase the complementary product. In fashion sales, retailers can use beacons to push offers for shirts that match the lower pants that a female customer in the store buys from the women section.
In-store targeting can assist retailers make strategies to entice a customer who leaves a store without purchasing an item. Consider a man walking into the men’s row fashion. He might spend several minutes checking out the clothes and other men items on sale but can walk away without making a purchase. The retailer can use this insight to place displays of new arrivals the next time the prospective customer visits the store.
How is that possible? Face recognition technology can scan and store the individual’s information and detect the person in the next visit to help the retailers have the right displays for the target customer.