Is your brand ready for changes in the Retail?

At present, many companies seem to have an uncertain future if they do not adapt in time.

According to the CISCO report of “Customer Experience in 2020”, 70% of purchasing decisions will be based on the experience of the consumer, who is now more demanding, empowered and with a variety of alternatives in products and services.

On technological advances, its development and innovation such as robotics, virtual reality and artificial intelligence are some tools that are beginning to work through startups. An example of this is Mastercard, who has launched in Peru its first chatbot with artificial intelligence.

Now retail will have to give real value solutions giving more importance to its customers than to its own company applying the trend of purchase based on experience.

Studies confirm that the most precious thing for the consumer is their time, that is why the retailers will have to work 24 hours a day, 7 days a week to adapt to the consumer’s time.

Knowing the preferences of consumers will be of vital importance to know their tastes, level and frequency of consumption. Anticipating what a client says or thinks about what to buy to offer tempting incentives is important to gain their attention.

And your company, are you ready for the next generation?

The experiences inside the store are important to generate an environment that motivates the consumer to buy.

Branding is the concept that indicates the way in which a brand is constituted, and revolves around the development of the attributes and values that constitute a brand, and that are subsequently communicated to the target audience.

The brands are aware that it is a very powerful component, since through the various elements that make it up, the consumer conceives an idea about the value of the offer, and in the end this translates into credibility and confidence towards certain products or Services, even, helps brands differentiate their offer.

Branding is also key in the positioning of a brand. Today more than ever, retail stores must make a clear differentiation in the market. The experiences inside the store are important to generate an environment that motivates the consumer to buy. The use of certain decoration materials, as well as the way the store is built, together create a brand experience.

According to Fit Small Business, digital signage is one of the trends that are marking the design of retail stores to obtain a greater conversion of sales. This type of signage, for example, allows stores to advertise promotions in an attractive manner. One of the disadvantages is that your costs are high. However, it prevents a sign from being designed every time a promotion is launched. In any case, digital signage is a key component to communicate offers and, at the same time, display new products or information about the brand.

Undoubtedly, branding has a powerful effect on the decision of consumer purchase, because if you consider the elements that revolve around this concept, you will be able to project the personality of the brand in order to identify the products and services that a store offers. In the end, it is possible to mark a differentiation, not only at the product level, but also at an intangible level through the service.

Source: Informabtl.com