More data. More insight. More success.

In present time, companies are having more information at their fingertips than ever before. Automated data-gathering systems mean that businesses have instant access to a range of information on their customers, their competition and the various market trends. As more data allows greater customer segmentation, brands can talk directly to people with targeted messages that are engaging and relevant. This technology even allows companies to track the success of these messages and fine tune their approach if necessary.

Proximity — the fifth ‘P’ for a long list of prestigious retailers.

Product. Price. Promotion. Placement. The renowned 4 Ps of Marketing — a concept created by E Jerome McCarthy in 1960. And now, arguably, we have a 5th ‘P’ — Proximity Marketing. Proximity Marketing uses cellular technology to send targeted marketing messages, via a Wi-Fi or Bluetooth signal, to mobile phones that are in close proximity to a business.

1. Whilst the audience is limited to those within close range of a store, the message is a fast, user-friendly way to reach the consumers most likely to buy. World-famous brands such as Hamleys, Longchamp, and Hackett have all deployed beacons in their stores with the aim of pushing exclusive and personalized marketing to customers via this type of Beacon technology.
2. As they pass by, shoppers receive alerts and tailored content about everything, from new in-store promotions to exclusive offers only available to visitors of that store. The app also allows shoppers to input their own preferences.
3. Mass personalization — getting consumers to vote with their thumbs. The fact that AI can now take on the cognitive load required to formulate personalized offers and refine these based on actual customer response, means we’re heading for a level of mass personalization hitherto unknown. Smart systems are now at the forefront of the race to grab consumer attention with most growth coming from mobile. Shop Direct, which runs very.co.uk and Littlewoods, predicts that AI is now the key to the future of online retail.

Retail theater goes to the next level

The growth of in-store analytics mean businesses can now utilize all sorts of different customer data and use it to improve footfall and customer service, utilize space more effectively and improve store layouts. This also means that customer ‘theater’ has become an integral part of the shopping experience with many stores using interactive screens and booths to grab attention.

Welcome to a new in-store experience

From physical robots that can show you where the toothpaste is, to algorithms that know what you want before you do, technology is now at the heart of the shopping experience, whether we like it or not. Businesses can now have real-time knowledge of their customers both on and offline. And it’s an all-channel approach that will ultimately win the day — a 360-degree experience that’s seamless, so all the customer sees is, the brand and how it makes them feel. With online and offline activities fully integrated, it’s now possible to browse online, make an appointment in a digitally enabled store, then have the technology in that store highlight items for you, access their specific details, and even bring them to you. From intuitive mobile apps to drone deliveries, the opportunities across all sectors are mind-boggling.

Part II of this article is available now.