HMY > The Retail Sector’s Digital Transformation

The Retail Sector’s Digital Transformation

Digital technology is very influential in the world of retail. The presence of an increasing number of devices, together with the burgeoning growth of this industry and online communications, has transformed the relationship between consumers and brands, and also has influenced, or continues to influence, the connection between online and offline business.

One might assume that these technological advances could hurt offline business, because of the convenience and ease with which users can make purchases with just a one click. However, the reality is that retail sector companies have been able to take advantage and grow thanks to these circumstances. 

Where Is Retail Going Today?

The consumer has become much more valuable. Companies have realized the importance of offering individual customer service and to do this, they must take advantage of all the information they can gather from interactions shoppers have with brands and their products through digital devices.

One of the ways to achieve this is through shopping apps. A good example is by looking at fashion brands and how these companies interact with their customers. These brands develop an individual profile that their users create, and with the information they obtained, they can get closer to them and provide appropriate new products in line with their tastes, let them know about promotions or available items that might interest them, etc.

Omnichannel is a key element for retail companies. Brands that want to survive will have to make themselves present in all sales channels, and also they also must be integrated to offer a complete user experience.

With respect to this integration, there are also other aspects of shopping that users have assimilated online and now demand at physical stores. Among them, we primarily have the speed and ease with which they can make purchases, and also how they find items of interest or how they receive recommendations for similar products.

But to achieve complete buyer satisfaction, we have to go one step further. Simply taking online shopping practices and applying them to physical stores isn’t enough.  You must offer something distinct and exclusive.  This is where, once again, digital technologies become relevant.

This includes the most basic actions, technologies already implemented in many stores, like mobile payments, touch screens, or intelligent fitting rooms, among other elements that increase the level of customer interaction within the store.

In this sense, the trend is to create physical stores that offer a much richer experience, not only centered on product searches and purchases, but also focused on a more complete leisurely activity to do.

In the words of Lorena Gómez, HMY’s Retail Technology Manager, “Improving the store experience is one of the biggest trends in retail” and new technologies have played a major role.

To do this, spaces dedicated to games and entertainment have been designed and created, and at the same time, to introduce digital layers that can increase the client’s interactions with the store, offer information, connect to their devices, etc.

As far as brands are concerned, the advantages of adopting new digital technologies are focused on using resources more efficiently, primarily by analyzing what’s happening within the store at all times and anticipating buyer demand.

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