Challenges Faced by Retail Professionals and Stores
Retail store is the only place a customer get true retail experience. However, more and more big retailers have closed their store locations over the last few years in Australia. Retailers need to change the way when interacts with customers. We need to give our sales personnel all the possible advantage we can.
In reality, retail chains are simply in the process of adapting to changing buyer behaviour and customer demands. What’s occurring is, in fact, a lot closer to a retail renaissance than a retail apocalypse. And while not all retailers can adapt quickly enough to survive, the most innovative retailers are likely to have brighter futures.
We all know that Amazon and Ali Baba type eCommerce stores are a success. One aspect of this is that customers buy online due to the deals they can get. However, the deals can be made in store as well, which they are not always aware of. Using the additional feature of “you can walk away with a product today rather than wait 2 weeks in the mail for it” is a major plus and should be taken advantage of.
Having said that what can we do in addition to this for the retail stores to make them more profitable? Using technologies like facial recognition to identify customers, VIP’s, fraudsters is a good start. How do we use this technology to the next level?