6 ways that technology is revolutionising the customer shopping experience
The most recent government figures put the value of the UK ecommerce market at £533 billion. Around 80% of internet users in the UK engage in online shopping, which makes this a market with one of the highest online shopping penetration rates in Europe. So, online shopping is well established as an expected customer experience. However, as technology evolves, it’s not only in getting increasing numbers of shoppers into ecommerce where it is going to have an impact.
1. Omnichannel shopping
Technology is enabling customers to engage with multiple channels in order to help them make purchasing decisions. So, a shopper might conduct online research about a brand and look at reviews about delivery times. They may then browse the brand’s social media accounts and what other users say about the products or services. 38% of purchases are now made through multiple channels, which is something to think about when it comes to managing brand perception.
2. Integrating AI
Artificial Intelligence (AI) is already being used to crunch and analyse big data, detect fraud and input into customer behavioural prediction and analysis. In the very near future it will also be increasingly employed to enhance customer service and improve communication with smart chat bots answering queries and requests for order updates. In fact, according to Gartner, by 2020 we will be seeing around 85% of customer interactions handled by AI.
3. Supply chain and logistics
Customer expectations get higher by the year and this has a particular impact when it comes to factors such as availability, delivery and choice. Technology is already enabling retailers to improve supply chain management to offer a faster service via practices such as cross docking, third party logistics and real time delivery. Technology can impact right along the supply chain, from providing perspective on actual inventory, to enabling real time orders and order aggregation and fulfillment.
4. Mobile shopping
86% of UK digital shoppers have made a purchase via their smartphone. Mobile shopping is fast becoming the default for consumers, whether it’s the weekly grocery shop or clothes and shoes. That’s why effective mobile marketing, curating online reputation and ensuring competitive pricing have become key.
5. Data insights
Behavioural analytics offer vast insight for brands looking to gain an understanding of customer behaviours, purchase history and what kind of interactions a customer has had with service teams in the past. Online business analytics provide a rich vein of data that can be used to make improvements throughout many areas of the organisation, from advertising and marketing, to supply chain management and strategy.
6. Dynamic pricing
Online shopping has introduced a new need for retailers to be on top of pricing in response to supply and demand. Thanks to the support of technology it’s possible for etailers to monitor a competitor’s pricing strategies and make real time changes to their own in response to data that shows how products are being received.
Technology is changing the way that the construction industry works, and the retail projects that we undertake. Contact us to find out how RG Group uses technology to provide a better service for our clients.