Opinion: Three Common Retail Innovation Mistakes And How To Avoid Them

Our take: At the end of the day, brands must create tangible value for customers to facilitate long-term engagement... |

Magic mirrors, virtual rails, digital fitting rooms, even brainwave readers — these are just a few examples of the retail industry’s attempts to improve in-store customer experience with cutting edge technology.

Somewhat surprisingly, they haven’t driven the kind of business value we’ve expected.

In fact, traditional brick-and-mortar retailers announced 6,400 store closures in 2017.

Large or small, we’ve seen many casualties. Something clearly isn’t working.

Here we examine three common mistakes brands make when trying to deploy innovative customer experience technology, and suggestions on how to avoid them.

Mistake #1: Sticking To One-Way Communication
That holy grail of in-store experience comes at the tail end of a long chain of customer interactions with brands. You can’t analyze interactions effectively without looking at how brands communicate with customers — and vice versa. What we’ve witnessed lately is not only the failure of traditional retail, but also the failure of mass scale B2C marketing. Traditional consumer marketing is quickly becoming that guy who won’t stop talking about himself when he goes on a date.

Customers want retailers to know them intimately and they expect a personalized shopping experience — both online and in-store. Unfortunately, when brands roll out new technology, they often miss the opportunity...

Read the rest of the common mistakes from retailtouchpoints.com...

thumbnail courtesy of retailtouchpoints.com

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