ShareLinkedInTwitterFacebook
Subscribe

Footfall Data & Analytics

Why in-store technology should be a priority for your retail space

Written by Tony Loxton
Jul 24

Several decades ago, there was far less pressure on retail spaces to be at the forefront of technology. Credit card facilities would have sufficed as all the in-store technology you’d need to surprise and delight customers, and there was very little (if any) competition from online retailers. Today, it’s a different story. What is classified as in-store technology is evolving all the time, and there’s more pressure on retailers to provide customers with unique shopping experiences. Keeping up with technology is no small challenge, but can dramatically affect in-store activity and profitability if used alongside the right analytics.

Brick-and-mortar stores need to up their game (with in-store technology) if they want to woo customers with a winning shopping experience

So why has introducing in-store technology become such a priority for businesses operating in retail? Isn’t a decent product and excellent brand positioning sufficient to maintain a healthy bottom line? Not always. The convenience and speed of e-commerce has altered what incites customers to set foot in a brick-and-mortar store. Going into a store is no longer a necessity, but an experience. And if the experience doesn’t deliver, there’s no reason for a customer to return to your store. Customers want a seamless experience that aligns with their own use of technology: their smartphones, and the apps and social media platforms they use.

What comes first: the technology or the experience the customer wants?

From in-store on-screen promotions, to free wifi and payment apps, it’s no understatement that in-store technology is shaping the retail environment. Retailers need to be aware of the interplay between how technology is shaping the retail environment, and how shoppers respond to retail environments based on the technology deployed there. Social media, especially Twitter, plays a large part in shoppers’ buying decisions, with many referring to the app while they shop. Retailers need to jump on this trend and get involved in the conversation to enhance customer retail experience and improve their bottom line.

Payment apps, biometric identification and beacons are just some examples of how technology can enhance the shopping experience

When it comes to in-store technology for retail, wearable technology, video, payment apps and geolocation are hot trends that can be used and adapted to create novel experiences for customers in-store. Let’s take payment modalities as an example. As we mentioned in the introduction, credit cards marked a huge change in the way customers would pay for goods. Now, a plethora of payment options exist: from scanning wearable technology in the form of the Apple watch, to mobile wallets and payment apps. These payment modalities make it easier and quicker for customers to buy goods, while giving the retailer access to data about their customers (which can be used to further improve the shopping experience).

Technology can attract more customers to your store, and get them to spend more

If deployed effectively to give customers a seamless and engaging retail experience, in-store technology can drive more foot traffic to your store, as well as ensure repeat customers. Technology can also encourage customers to spend longer in store, which can help increase basket size. When combined, these factors drive up revenue and ROI, and have a positive impact on profitability. What’s more, if you encourage shoppers to engage with your brand on social media while in store, it will help amplify brand awareness.

Blix’s foot traffic counter helps retail stores stay at the forefront of in-store technology by providing them with insights that have a far reaching impact on the success of their retail environments. To learn more about Blix Traffic and how it can help improve your store’s performance, get in touch with Blix today.

Book a time to talk

You might be interested in these