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How Digital Transformation Will Disrupt the Retail Industry

October 11, 2019

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It seems that every day there is an update or a new product that makes our day to day lives more convenient. Because of these technological advancements, consumers’ shopping methods and behaviors are constantly changing and their expectations are constantly on the rise as well.

As a result, retailers such as Amazon and Target must take notice of this and adjust to this changing landscape to enhance their customers’ shopping experience.

What is digital transformation?

Digital transformation is the use of advanced technology and behavioral data, not only to merge the digital and physical world, but also tailor products and services to enhance the shopping experience of consumers.

Why is digital transformation important?

It is evident that every customer wants to feel special — and technology can help. In fact, nearly 60% of marketers that are already using AI to foster deeper relationships with their customers say that “personalization technology is the key to unlocking the 1-to1 customer experience.” But how can businesses adapt to this digital transformation?

Implementing cutting-edge technology such as AI and IoT and using consumer data to create a hyper-personalized shopping experience is the answer. Believe it or not, 52% of consumers say they are more likely to switch brands if a company doesn’t personalize communication towards them.

So when this technology is used correctly, this will not only incentivize consumers to continue shopping but it will increase sales as well. Ultimately, businesses must find innovative ways to implement technology to create a more hyper-personalized shopping experience for their customers.

Check out our infographic to see how your business can utilize various strategies to expand your target market and create the ultimate shopping experience for your customers.

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Taking the time to listen to the wants and needs of your customers can truly revamp your business and create a shopping experience that your customers have been longing for. Even though integrating technology such as AI, IoT and AR/VR can be challenging, it is worth the investment.

Finding innovative ways to keep your audience entertained is what will keep them coming back for more. The next time your customers come to your store make sure they check out these Amazon coupons to save money and so you can give them the shopping experience they’ve been looking for.

Sources:

Goldman Sachs| Salesforce | Shopify | Medium |Forbes 1, 2, 3 |SuperOffice