iPad on shop counter. Photo by Nathan Dumlao on Unsplash

World retail report examines sustainability, tech and consumer fears

Every year, retailers look for new ways to increase customer engagement and efficiency throughout the shopping experience. Fast and reliable shipping, an efficient checkout process, and an overall-enjoyable shopping experience are no longer nice-to-haves for retailers – they are obligations to the customer.

Customer expectations increase every year thanks to “liquidation of demand” (essentially, the expectation that all companies offer a similar level of technology in their consumer experience – such as Uber’s real-time, to-the-minute location tracking or Starbucks’ ability to remember and prepare your usual order in advance of your visit), and in the pursuit to meet them, retailers have consistently turned to technology.

This is evident as retailers invest in advanced artificial intelligence (AI)- and machine learning-powered technology to optimise their customer experience by re-focusing their workforces on customer engagement.

One of the most effective of these solutions, heavily leveraged by leading retailers around the globe, is prescriptive analytics. This robust and action-driven technology analyses large amounts of data and determines what is happening, why it happened, what to do about it, and who should fix it. Its near-real time, automatic analysis empowers employees at the edge to make fast, accurate, and effective decisions that drive efficiency and operational excellence. This translates into significant time savings on more mundane tasks, which can be re-allocated into customer engagement…

visit Retail Week and World Retail Congress to read full story and access the report

Main image: iPad on shop counter. Photo by Nathan Dumlao on Unsplash

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