Retailers juggle vast amounts of data from a variety of sources to improve their level of service and the customer experience. This is critical, as 90% of consumers say the amount they spend or shop with a retailer is impacted by how consistently the retailer delivers a personalized shopping experience – and 65% are willing to share their data with retailers in order to receive it.
But analyzing data without advanced technology can be overwhelming. AI is helping retailers aggregate their physical and online data to better serve their customers. What's more, these personalized engagements can be carried out at the point of sale in order to foster loyalty.
Employee devices to access omnichannel data
What makes customer service good? During an interaction with a customer, sales staff can learn about specific needs and recommend corresponding products. But imagine how much more beneficial it would be to know a shopper's preferences at the beginning of each interaction – without having to even ask.
Devices for employees, such as mobile phones or tablets, can provide support while they are on the sales floor interacting with shoppers. After identifying a customer by loyalty card or e-mail, additional information across both physical and digital channels can be accessed. This includes information on recent purchases as well as items viewed or added to a basket but not purchased. Based on this information, AI-based solutions can calculate product recommendations, enabling sales staff to make relevant suggestions during each customer visit.
Through recommendation-based interactions, sales staff achieve a better quality of service, strengthen customer loyalty and generate additional purchases, which in turn has a positive impact on sales volume.
Personalized coupons to foster loyalty
Whether on paper or presented digitally, coupons are still a popular means of customer loyalty. In fact, 2020 was the first year digital coupons exceeded print circulars. But regardless of format, coupons must be relevant. Offering a vegetarian a discount for a meat-based product is not only inappropriate, it can be offensive.
To increase redemption rate, retailers must suggest relevant products to customers on an individual level. Self-learning AI algorithms can automatically calculate product recommendations of the highest personal relevance and combine these with existing coupons and promotions. At the point of sale, a customer can then receive a coupon directly on the receipt or in an email newsletter. This interaction can spur return purchases and further brand loyalty.
Digital signage for real-time content
In-store television and digital signage is often used to promote specific products. This technology is also beneficial as retailers look to safe, engaging in-store experiences. However, this method of in-store advertising requires significant manual maintenance. In order to be timely, the display must be constantly updated. Luckily, AI can fully automate digital signage with real-time, relevant content depending on the retailer's goal.
The content used on digital signage can also be adapted to time of day, location, regional events or current customer behavior. For example, if there is little demand in the baked goods department, the sign will display a special offer during a specific time slot. If the weather is warm, AI recognizes this and can recommend barbecue supplies or ice cream. In this way, the impact of in-store TV and digital signage is significantly increased, and more interesting offers can be played out to customers.
Unlock actionable insights
As the point of sale is expanding beyond the checkout counter, making sense of data can be overwhelming. Between customer, inventory and pricing information – just to name a few factors – retailers need the right technology to access actionable insights. GK Software is here to help you implement the best solutions for your business.
