Today’s modern age requires modern solutions such as smart retail, and in this article, let’s get to know more about this epic game changer and its benefits.
What is Smart Retail?
Brands are currently facing new realities in the market. From disruptive trends such as online live selling to more empowered consumers, marketers and key decision makers need agile answers in coping with changes around them.
Lately, the COVID-19 pandemic prompted businesses to explore more ways of reaching out to new customers and staying connected with their existing markets despite lockdowns and isolation. One of them was smart retail.
Smart retail refers to utilising technologies and other innovations to provide consumers with a better and more enriching shopping experience. In most cases, smart retail is done by combining digital tools and platforms with traditional, in-store shopping experiences.
Case: Rail Cross by JR East
To illustrate how smart retail is usually done, here’s an example from Japan East Rail Company’s (JR-East) Japan Rail Cafe Booth in Singapore.
For a limited time, JR East allowed Singaporean consumers and travel enthusiasts to directly order and subscribe to their Rail Cross omiyage (souvenir in Japanese) boxes.
The railway company set up a smart booth in Japan Rail Café where interested buyers can customise their selections of Japanese treats. The booth also displayed an actual sample of the box for customers to look at.
Read more case studies on smart retail by clicking our previous articles.
- Yuan Skincare Embarks on Smart Retailing to Tap More Buyers
- How Smart Retail Solutions Helped JR East Deliver Omiyage Boxes to Singapore?
Why is Smart Retail Important Nowadays?
Initially, smart retail was considered as a quick-fix solution to mobility restrictions. But the pandemic accelerated the shift to digitalisation. In turn, more and more people are relying on the internet to get through the day.
With consumers more connected and informed than ever, brands should expect major changes in their shopping behaviour and buying preferences. In turn, they must be equipped with the right tools to respond to these disruptive shifts.
Aside from elevating your customers’ shopping experience, smart retail can also bring a lot of benefits to your business.
1. Improve Efficiency in Managing Your Online Store
Smart retail solutions can help you improve overall efficiency in managing your online store. They can cut down manual labor in running your shop. Employing technologies such as the Internet of Things (IoT) can also help you oversee all activities in your business effortlessly.
2. Mitigate Impact of Disruptions
Smart retailing allows you to efficiently address and adapt with disruptions. For example, consumers nowadays prioritize safety and health when it comes to shopping. Contactless booths such as the one by JR-East can demonstrate how brands can still engage with buyers without posing any health risks.
3. Competitive Advantage
Investing in technologies can go a long way for your business. Not only can they improve your overall efficiency but also provide you with the necessary abilities to outperform the rest in the competition.
Explore Smart Retailing Today
As long as you’re doing it right, smart retailing can definitely help your business perform outstandingly and at the same time, handle uncertainties in the future. If you need expert guidance in doing smart retail, let us help you.
Contact us today, and let our Ecommerce specialists point you in the right direction.