A New Retail Era is Here - The Blended ExperienceAI, Sensors, Mixed Reality have and will fundamentally change retail forever.
Holistic retail as a consumer agents & curators
The E-Commerce boom & the infinite shelf
The rise of Club Stores, Value Players & Category Killers
The rise of Big Box & Mass Retailers
The tectonic Shift in Retail
In the first half of 2019, we’ve seen 19 retailer bankruptcies. More than 5,300 stores closed in 2019, in the US alone. And the retail apocalypse is only accelerating. Shopper expectations & norms have changed. And the tide is sweeping those who cannot adapt fast.
Shoppers are increasingly cynical of retail salespeoples’ motives. They avoid pushy sales tactics. They value experience. And they want to build relationships. Whether with people, brands or retailers.
According to a recent Zendesk study, good customer service increases the possibility of a purchase by 42%, while bad customer service translates into a 52% chance of losing that sale forever. This means more than half of us will stop shopping at a store due to a single disappointing customer service interaction.
Helping Beauty Retail Transition to the Blended Experience
Increase in sales is seen when companies use technology and data to personalize experiences
of customers are more likely to buy when they receive a positive retail experience
would like to see grater curation from retailers
would like retailers to use technology them learn about relevant products tailored to their needs
Improve Your Experience. Understand Your Shoppers. Optimize your Marketing & Assortment. Thrive in the new Age of Retail.
“Brick-and-mortar retail must be re-imagined in order to stay alive… and fast.
Personal AIs will draw in new customers, populating stores equipped with sensors to add more value to experience, and introduce cashier-less checkouts.
Prepare for a future experience economy wherein time is the most valuable resource, and retail becomes so much more than what you purchase.” Peter Diamandis, Futurist.
Today, in order to set ourselves up to thrive in the future, retailers must seek partnerships with incumbents & startups that help them improve and personalize the retail experience for their shoppers, using technology that will simultaneously enable them to collect data. Data that can be turned into insights, and insights into 1. An assortment that matches their shoppers’ preferences. 2. An experience that is desired by their shopper profiles. 3. Omnichannel marketing that enables a seamless online-offline journey. 4. A strategy that uses data to speak to consumers at discovery, purchase, consumption & re-purchase.
It is our powerfully simple, and simply powerful web app that your shoppers could access by scanning a QR code in your store, and get perfume recommendations leveraging our proprietary machine learning technology, Scentech.
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