How the digital revolution in the retail Industry enables better communication

March 10, 2020 3:46 PM

The internet has permitted retailers to interface with potential clients and showcase their products in a different way

One of the internet's initial impacts was to encourage retailers with a strong and unique point of view without having to worry about the floor space.One of the internet’s initial impacts was to encourage retailers with a strong and unique point of view without having to worry about the floor space.

By Akshay Jain

Technology is changing at a fast pace and so is every industry related to it. People are moving from Facebook to Instagram, Google to Pinterest, blogs to video content, and so on. While the content remains to be the driving force behind all the marketing strategies, it is how it is generated, monetised, and marketed to the target audience that matters.

Traditional marketing included pop-ups to divert the audience from what they were already watching, reading or listening. Agencies and media firms would utilise the space to spread a message in order to attract customers as per the size and demographic of the audience. Today, it is different. Today, Internet advertising industry is more sophisticated than ever before which lets retailers deliver their up-to-date graphics to target audiences and measure their responses simultaneously.

One of the internet’s initial impacts was to encourage retailers with a strong and unique point of view without having to worry about the floor space. The internet has permitted these retailers to interface with potential clients and showcase their products in a different way and physical stores have become a source of interaction and deal finalising place as opposed to be their only approach to find the customers.

Here are some new-age ways to communicate:

Digital Advertisements
Advertising is one of the vehicles organizations use to draw in clients. The Internet furnishes a stage to put promotions with the possibility to attract several shoppers around the globe. A few advertising options are accessible on the Internet. You can put banner and content promotions on well-known sites that are applicable to your business. You can likewise put advertisements on informal communities, for example, Twitter and Facebook.

Social Media a.k.a TV Commercial
The Internet likewise gives retailers an extra channel to sell items. Thirty years back, a retail store without a physical stock was not possible. Today, customers can purchase nearly anything they need on the Internet by visiting an organization’s site. This lets retailer sell more items without the expense of leasing and maintain stock by occupying extra retail floor space. The capacity to sell merchandise without the expense of a physical warehouse is particularly useful for business leaders who need to keep their operational costs low.

Customer Service
Building a base of faithful clients that return and purchase items over and over is fundamental to making an effective independent organization. The Internet can assist companies with improving client service by giving them an extra channel of correspondence that is accessible at even inconvenient times of the day. What’s more, the Internet lets organizations disseminate significant buyer data, for example, item manuals, guides and answers to every frequent inquiry. This can assist clients with settling on educated choices about their buys.

Market Research
Finding out information about the needs and preferences of shoppers is a basic part of advertising. If you don’t have a clue what your clients need, the amount they are eager to pay for items, and who is your competition, it is hard to offer the correct item to the commercial center. The Internet can be utilized to assemble buyer information through Internet-based research, surveys and online devices that let you track client exercises and inclinations.

While retailers have led the pack intending to the difficulties and opportunities provided by the internet, coordinating the online and offline advertising to create numerous channels to arrive to their clients and improving the retail experience could mean a success win for customers.

What has 2020 in store for retail marketing?

Augmented Reality
Augmented Reality (AR), Artificial Intelligence (AI), and machine learning are setting down deep roots. Retailers are utilizing AR to overcome any barrier between the online and the offline retail world. Super brands like Target, Lowes, and have set up AR in a way that permits customers to picture furniture in their homes. With the AR, advertising industry could reach $133 billion by 2021.

Product Personalisation
Having something that no one else has could ignite excitement. Online industry and physical stores are offering more alternatives than to tweak the buy, from monograms and weaving to completely one of a kind color schemes. Customization lets customers buy an item custom-made explicitly to their needs and style.

Visual Search
Another AI-fueled retail pattern, visual search permits customers to discover and purchase an item just by snapping a photograph. Computer based intelligence does something amazing to recognize the item or its alternatives over numerous destinations and retailers in only a tap.

Omnichannel Presence
Retailers are trying give good purchasing experience to their customers across channels, both on the internet and offline. As the gap between the two segments decreases, retailers need to make a point to be quick and receptive to client needs with marked touchpoints in all forms.

Social Shopping
Retail business and internet are inter-connected. Shoppable Instagram posts and stories have gained popularity in the most recent time, with 41% of internet-based business brands utilizing this element. Buyers are intensely impacted by what they see via social networking sites, particularly from influencers; having the option to purchase legitimately on their social media channel a sensible move in omnichannel trade.

The author is managing partner of Greenways.

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