The explosive growth of device connectivity, wireless technology, cloud computing and advanced analytics has driven the Internet of Things (IoT) from vision to reality.This growth presents a wealth of oportunity for retailers.
When it comes to the retail market in 2015, the key word is omnichannel. Consumers today need and want the ability to have a shopping experience their way, but that doesn’t necessarily mean we need to overstimulate them with alternative technology.
"Shared data among all channels empowers store associates with customers’ cross-channel histories and preferences, as well as collective trends. This information is valuable for engaging the customer, driving revenue (cross-sell recommendations) and fostering brand loyalty. Yet associates must guard against crossing that nebulous “I know-too-much-about-you” line at any given time, which can damage the relationship between a high-touch brand and its customer."
"Virtual reality, the panoramic technology with roots in gaming, is being adapted for retail consumers within the next year, aiming to pair the ease of e-commerce with the thrill of real-life shopping."
"We are all familiar now with the principles of omni-channel business model: today’s customers demand seamless experiences centered on their needs, meaning that brands and businesses need to reinvent their processes and offerings to keep up."
"Video has proven its ability to create a brand experience on YouTube, Facebook and other social media platforms. But retailers of all sizes are catching on to the fact that video can be the next best thing to visiting the store in terms of product education and conversion."
"As Washington weighs new cybersecurity steps amid a public backlash over mass surveillance, U.S. tech companies warned President Barack Obama not to weaken increasingly sophisticated encryption systems designed to protect consumers' privacy."
"The Visa Europe survey estimates that payments from smart devices will reach 1.2 billion pounds per week by 2020. While the study focuses on smartphone payments, there is little doubt Brits are becoming more comfortable with contactless payments, at least according to this survey."
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