The Retail Sector’s Digital Transformation: HMY
Digital technology is very influential in the world of retail.
The presence of an increasing number of devices, together with the burgeoning growth of this industry and online communications, has transformed the relationship between consumers and brands.
It has also influenced, or continues to influence, the connection between online and offline business.
One might assume that these technological advances could hurt offline business, because of the convenience and ease with which users can make purchases with just a click.
However, in reality, retail-sector companies have been able to take advantage and grow, thanks to these circumstances.
Where Is Retail Going Today?
The consumer has become much more valuable. Companies have realised the importance of offering individual customer service, and to do this, they must take advantage of all the information they can gather from interactions that shoppers have with brands and their products through digital devices.
One of the ways to achieve this is through shopping apps. A good example is by looking at fashion brands and how these companies interact with their customers.
These brands develop an individual profile that their users create. With the information obtained, they can get closer to them by providing appropriate new products in line with their tastes, letting them know about promotions or available items that might interest them, and so forth.
Brand Survival For Retail Companies
Omnichannel presence is a key element for retail companies. Brands that want to survive will have to make themselves present in all sales channels, and they must also be integrated, to offer a complete user experience.
With respect to this integration, there are other aspects of shopping that users have assimilated online and now demand at physical stores.
Among them, retailers primarily provide the speed and ease with which customers can make purchases, and also how they find items of interest or how they receive recommendations for similar products.
To achieve complete buyer satisfaction, retailers have to go one step further. Simply taking online shopping practices and applying them to physical stores isn’t enough.
They must offer something distinct and exclusive. This is where, once again, digital technologies become relevant.
Integrating Digital Experiences
This includes most basic actions, and technologies already implemented in many stores, like mobile payments, touch screens, or intelligent fitting rooms, are increasing the level of in-store customer interaction.
In this sense, the trend is to create physical stores that offer a richer experience that is not only centred around product searches and purchases, but is also focused on complete leisure activities.
In the words of Lorena Gómez, HMY’s Retail Technology Manager, “Improving the store experience is one of the biggest trends in retail,” and new technologies have played a major role.
To do this, spaces dedicated to games and entertainment have been designed and created. As well as this, digital layers have been introduced, to increase the client’s interactions with the store, offer information, connect their devices, etc.
As far as brands are concerned, the advantages of adopting new digital technologies are focused on using resources more efficiently, primarily by analysing what is happening within the store at all times and anticipating buyer demands.
For more information, visit the HMY website.
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