Page 15 - AeM_Dec_2017

BEST PRACTICES & STRATEGIES

Technology trends

no retailer

should neglect

How to deal with Amazon Dash, customized content,
cross-device user experience, and convergence of sales
channels? In a retail business world that’s clearly
characterized and dominated by rising customer
expectations, decreasing brand loyalty, reduced margins
and an array of options for customers. Technological
innovations provide an answer to these challenges and
serve as a distinguishing feature to the competition.

Gartner has analyzed where retailers and marketers
invest and what topics they should keep an eye on, Analysis of the customer journey
disclosing at the same time the topics the industry will
probably talk about the most: Users access different channels and devices on their
‘path-to-purchase’, as Criteo’s State of Cross Device
Thing-commerce Commerce Report vividly points out: In 2016, one third
of online retail transactions involved two or more
Smart, networked devices of the Internet of Things (IoT) devices, demonstrating that a good cross-device user
era are transforming digital commerce, shifting the experience is essential. Hence, retailers and marketers
buying decision of users to devices (things). An example must optimize the respective channel for individual
is Amazon Dash, which was introduced in 2016 and re- customer intention as well.
orders preferred products at the touch of a button. So,
looking at it from that perspective, these devices are a Accurately analyzing the customer journey improves
completely new kind of customer. The primitive form of customer satisfaction, translates into more continuity
this thing-commerce still needs a manual and explicit between channels, grants more attribution and user
action, but once the devices become more sophisticated segmentation, and increases user personalization. The
and users trust them, they will bear more responsibility. goal is clear: If the user is satisfied, he will buy faster.
Then, it's about recurring purchases, such as consumer
goods. Convergence of B2B and B2C
For retailers and marketers, obviously, a new situation The increasing convergence of business models of
arises. Devices will increasingly affect their businesses B2B and B2C commerce is relevant in several ways.
and will more often have to deal with "things".
Consequently, they will have to deliver offers that For B2B companies trying to build physical sales
convince IoT devices. channels (sales teams, partner sales teams, support
teams, etc.) this convergence promises sinking costs
Personalization as they are less dependent on existing sales channels.
At the same time, an online store additionally increases
Personalization is more than ever a hot topic, especially overall sales and market presence, besides providing a
since companies can less and less differentiate better user experience which in turn strengthens
themselves by products and price. Instead, they try to conversions and sales.
stand out from the competition through customer
experience. If companies analyze purchase intentions On the other hand, B2C retailers can also benefit from
and interests, they can offer the user an added value, as the convergence, since they have the opportunity to
individualized content can be shown, and the customer improve their own purchasing experience with suppliers
feels in good hands. A good personalization increases of raw materials or can strengthen the relationship with
satisfaction and engagement, and increases the distributors and wholesalers based on their commerce
conversion rate. platform.

By MediaBUZZ

MediaBUZZ Pte Ltd - Independant ePublisher for Asia