Re-imagine the Shopping Experience with Internet of Things
It’s a sunny Saturday afternoon. You stroll into your favorite fashion retailer and walk up to a mirror to order a cup of coffee with a swipe of your fingertips.Drink in hand, you select clothing you want to try on. Upon entering the fitting room, the silk blouse and trousers you’ve picked are automatically detected and appear on the mirror. As you button up the blouse, the mirror in front of you doubles as a touch screen and shows potential ways to style the top with matching accessories.
While you try the items on, you have a few options: Doesn’t fit? Request a new size with the touch of your finger. Not sure what size you are? You can even have the system detect what size would fit you best.
Ladies and gentlemen, this is the new retail experience – powered by the Internet of Things, where anything is possible. In fact, it’s only going to get better. The Digital Shopper Relevacy report released at the end of 2014 revealed that 44% of the 18,000 respondents believe in the potential of the Internet of Things for shopping experiences.
What does this mean for the industry and for your business? Here are my top 3 takeaways:
#1 Brick and mortar stores are here to stay.
Remember the Great Mall Exodus – when ecommerce was the goliath that was taking over the retail space? Well, it looks like brick and mortar stores have come back – and with style (no pun intended)! Retail locations are beginning to revolutionize the way they engage customers. Brands like Rebecca Minkoff in partnership with eBay are creating an “experiential theater” environment with touch screens around the store. Burberry converted its’ London flagship location on Regents Street into a concert venue. Digital technology continues to push the boundaries on how retailers define a physical store and increase customer engagement!
#2 A personalized shopping experience like never before.
It’s no secret that consumers now research on multiple devices before making the decision to purchase. At the same time, consumers also want a “human” experience and element with the technological advancements. With the new features of a physical store – a customer’s preferences can be easily identified, streamlined, and stored in the cloud. This translates to better customer service as sales assistants have the history of the customer’s activity at their fingertips to see what was brought last and make sales suggestions on the spot.
#3 Seamless, connected and endless possibilities!
From laptop to wearables to tablet, we are more connected than ever. We can paint a portrait of a customer from the moment they walk thru a retailer’s door. This information is priceless for retailers and opens the possibilities for creative ways to promote. For instance, Macy’s has already leveraged Apple’s iBeacon to help customers snag deals in the store by sending coupon deals to smartphones. In mobile, RedLaser, an application that allows users to scan items to do an instant price check, is driving possibilities with retailers on real time information.
For a self-proclaimed shopaholic, I couldn’t be happier about the new innovations for the physical retail space…but to have a robot tell you what size you really should be? Now, that’s a whole new battle!
Want to learn more? Check out the CEO Perspective: Internet of Things for Retail study which outlines the top priorities for businesses to develop a successful strategy.
How are you going to innovate your business to keep up with the retail industry’s innovations? Share your thoughts with me on Twitter @DVuBroady.
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