Transformative Digital Technologies in Retail

The transformative impact of digital technologies has been widely known for several years now. From manufacturing to healthcare to retail, the role of digital technology to improve your business has never been greater. Digital signage, for example, has a recall rate of 83%; almost double the retention of traditional advertising formats. As we come out of the pandemic, digital technologies have the ability to transform your business into one that is more profitable, has better customer service and is completely future proof.

So, how can digital technologies help your business?


Improve your Profitability

Digital technologies such as digital signage are able to improve your profitability as a business. Digital signage is designed to show offers and products to customers in real-time. The offers can also be attuned to where in the store it is placed, offering complementary products to the ones that the customer is already purchasing. Once the buying decision has already been made in the customer’s mind, it is easier to sell them more products. Digital signage accentuates this effect meaning that customers are going to buy more readily, improving your sales and profitability.


Enhance your Customer Service

Digital technology can also transform your business’ customer service. Digital signage is able to give customers product information in real-time and AI chatbots can also be used to answer customer questions digitally. Not only does this improve your customer service, it also reduces pressure on your staff. This frees them up to serve customers better, thus improving your customer service two-fold.


Bridging the Gap to E-Commerce

With e-Commerce becoming a mainstay of shopping habits during the pandemic, many customers are now used to the convenience that it comes with online shopping. Digital technologies give you the opportunity to bring some of that convenience into your brick-and-mortar store. With digital signage, you are able to give stock information, compare prices across stores and organise click-and-collect, all while instore. This brings the immediate benefits of e-Commerce to the real-world retail experience.


Capitalise on your Data

As a business you always want to get to know your customers better. The opportunities to use customer data with digital technologies are exponentially larger than traditional market research techniques. By utilising data capture, you can serve your customers better, improving the retail experience that you provide, and gain a much greater insight into their buying habits. This has two benefits. The first is from an individual perspective as you are able to work out what products they want and need. This means that you can sell products more effectively to them, increasing sales and profit. The second is that you are able to see all of your customers’ combined buying habits together. This gives you a birds eye view of what stock is being used on a month-by-month basis. As a result, you are able to make more efficient stock buying decisions, improving your efficiency, reducing waste, and increasing profitability.

Digital technologies have a range of benefits, not just for you but also for your customers. Without it companies risk being left behind. By embracing digital technology, you can help to keep your business safe and secure into the future.


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