Some great work from the guys at IBM. One of their Top 5 predictions for the next five years really caught our eye at C24 that being the come back of the retail store. The video and information below really highlights the benefits of the cloud and understanding your customers and in order to truly benefit from the potential now is the time to look at the technology available. Anyway enjoy for now….
Shopping online is a national past time. Online sales topped $1 trillion worldwide for the first time last year, and are growing faster than in-store sales.
Online stores currently have an advantage in their ability to learn from the choices we make on the web. Today, most physical stores are limited to the insights they can gain at the point of sale – and the trend of showrooming is making it harder to compete with online retailers who compete solely on price.
In five years, new innovations will make buying local du jour once again. Savvy retailers will use the immediacy of the store and proximity to customers to create experiences that cannot be replicated by online-only retail. They will magnify the digital experience by bringing the web right to where the shopper can physically touch it.
In five years, retailers could rely on Watson-like technologies to equip sales associates to be expert about every product in the store. With technologies such as augmented reality and the recently announced plan to open Watson as an app development platform, IBM is providing shoppers’ with better in-store browsing and buying experiences.
As mobile devices supported by cloud computing enable individuals to share what makes them tick, their health or nutritional needs, virtual closets and social networks, retailers will soon be able to anticipate with incredible accuracy the products a shopper most wants and needs. As a result, stores will transform into immersive destinations with experiences customized for each individual.
And given their proximity and multiple footprints, stores will be able to offer shoppers a variety of fast pick-up or delivery options, wherever the customer is. Two day shipping will feel like snail mail.