Tech-Fueled Retail: In-Store and Online

Over the
past few weeks, the Stylus Life team has been tracking the latest
innovations in retail tech ‘ the online tools making shopping seamless, and the
in-store tech that will encourage customers to head back to the high street.
Retailers
are always seeking new ways to entice customers and encourage loyalty, particularly
looking to create convenient purchase journeys that fit around shopping habits.
This strategy is seen through Mr Porter’s recent partnership with Apple TV. A first for luxury content-commerce
mergers, the collaboration sees the e-tailer monetise its editorial video
content, letting shoppers buy directly through their TV.
Similarly, Instagram recently announced it would soon start
testing retail tools that enable users to buy items found in their image feed ‘
a move that will help both brands and tastemakers to drive revenue through the
platform. The new feature, kicking off in the US with twenty retailers, ties in
with recent stats showing that consumers increasingly shop via their mobile
devices.
The consumer
desire for convenience and curation is also highlighted in recent research that discovered 43% of US consumers are
likely to do their holiday shopping via online marketplaces such as eBay or
Amazon, compared to just 15% purchasing via an individual retailer’s website. This
dramatic difference is due to marketplaces’ ability to offer shoppers a simpler
experience, with a wider variety of products at the best prices ‘ all in one
place.
So if
shopping online is easier, what will send customers back to the store? Well, a recent survey has found that 63% of UK shoppers still
prefer the high street, but are more likely to be enticed by tech-fuelled
retail spaces. The convenience of contactless and mobile payments was described
by some as ‘life-changing’. Meanwhile, shoppers are more likely to visit stores
with technology such as virtual reality (57%) or smart fitting rooms (57%), which
provide experiences that can’t be replicated at home or online.
Tesco is
capitalising on this consumer desire for technology, trialling digital receipts that offer shoppers personalised offers,
while also taking another step towards paperless transactions. The trial,
running through November, aims to give customers more choice. Beauty brand Charlotte Tilbury has placed digital interaction at the centre
of its new store, using virtual mirrors to help shoppers select their perfect
look, and in-store screens to showcase social media inspiration.
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