Technological has been changing retailer for decades, helping them to better conduct business, but today’s technology is qualitatively different. Advances in mobile technology, analysis and cloud computing technology allows both traditional and upstart retail model greater flexibility. They also help consumers, eliminating information asymmetry between sellers and buyers. Retailers must develop the skills and practices from those of a century past meaningful difference. Especially with the fluency techniques within the organization is crucial to the retailer hopes to grow healthy and strong.
Retailers must take advantage of new digital tools, He know-how business concern whenever they prefer to change. They can do the following:
1. Understanding What Retailers are Supposed to Do
An understanding of what retailers are supposed to do. By pre-selected retailers in the traditional value-added products for our customers, demand gathered in one place, providing marketing advice, as well as the body moves stocks. While some of these functions can now be accomplished by other means, they provide a starting point to solve the new role of retail.
2. Using the Data Well
Today’s technology provides a wealth of customer data from the customer’s loyalty card, social media, mobile applications for consumers, as well as other sources. Collect and use these data allow retailers found that they could be the most useful way of customers.
3. Social Media Strategy
Consumers are more likely to trust information from their peers than from the manufacturers or stores. Find ways to engage customers on Facebook, or respond well to tweets on Twitter, can make an enormous difference in how the brand is perceived.
4. Adapt Mobile Technology
Retailers are using “smart” shopping cart, allowing customers to find a particular item and scan their purchases as they shop, speed the checkout process. Such technology will help stores compete with online retailers.
5. Development for Customer’s Shopping
Due to the popularity of online retail, the store needs to give customers a reason to. It can be instant gratification, a pleasurable experience, specials, or find more convenient in the vicinity of the desired product to the same destination.
6. Online Integration, and Real-World Experience of the World
Even those who prefer online shopping customers often prefer contacts and experience in real life products. Connection retail business, both brick and mortar stores, can help avoid a “Showroom” other online retailers.
7. Add New Skills
Retailers must consider their new strategy, and find out how the development of the skills they need to achieve these goals. It may mean a focus on computer science or retraining staff to help customers locate hire more employees under both the real world and the network environment.
8. The Development of a New Model
Different types of retail business will find that in a different mode of operation of the digital world is their right. Some can compete with no significant changes, but many of them need fundamentally to rethink their business model.
The retail industry has undergone a transformation. The company failed to adapt quickly may lose too much market share recovery.