This the second in a series of three blogs on the elements of the Retail’s Digital Transformation Lifecycle: Promote, Find and Purchase. The first blog in the series, Promote: The First Step in the Retail Purchasing Lifecycle, can be viewed here.
It might come as a surprise that 85 percent of customers prefer to shop at a physical stores compared to buying via the Internet. However, online shopping can bring the efficiency and convenience consumers demand. Retailers must evolve to make the in-store navigation process simple and straightforward for consumers, while enabling the latest technologies to improve business processes. In other words, the find element of the purchase life cycle must be as efficient as possible.
Retail navigation technology improves customer satisfaction and conversion ratios by using mobile devices and Google Maps-like navigation technology to guide customers through the store. This same technology can provide insights into consumer behaviors that can feed into the operations and even marketing initiatives. Clients expect instant and easy product access, and digitally transforming a retail space can give it to them.
Basic installations provide users with software-driven guidance that allows the selection of start and end destinations. More enhanced installations add real-time indoor positions with the moving “blue dot” to follow customer movement. Most solutions utilize Bluetooth Low Energy (BLE) beacons to provide this tracking, while some other rely on Wi-Fi location triangulation.
Apps can be integrated into inventory systems to provide greater granularity. For instance, instead of providing directions to the plumbing aisle, the software provides details about the specific shelf of the desired product.
Retailers become more efficient from this form of wayfinding on many levels. They can create alerts when line lengths and waiting times exceed thresholds. They can improve satisfaction and efficiency by embedding “find an associate” capabilities that pinpoint both customer and staff locations. They can also increase revenue by measuring traffic versus product placement and making changes to put the most popular products in the best locations. And, new immersive technologies, like smart mirrors that allow retailers to virtually see how a piece of clothing or jewelry can also be installed.
You don’t need be on your own when implementing all these needs. Working with Black Box means knowing you’re collaborating with a trusted partner with more than 40 years of experience who has helped retailers of all shapes and sizes. Black Box has the breadth of products and experience to design, deploy, and manage a tailored solution for your business.
Additional information and resources on Black Box retail digital transformations can be found here.