Smart Retail

Nordic AsiaLedSmart Retail

SMART ADAPTIVE PERSONALIZED RETAIL

With the evolution of digital mediums, consumers are becoming increasingly sophisticated, connected and have high expectations of the retail experience.

Affected by a variety of environmental and social economic factors, research has revealed that the key factors driving consumers to online channels are price (55%), convenience and range (both 15%).

Mobile devices are also expected to significantly change the way in which consumers are interacting with retailers.

Through the proliferation of the internet – retail is now borderless. Many consumers today make purchases from online retailers who have worldwide presence. The online retailers offer lower prices, a wider variety of goods and free shipping to make their offering more attractive.

In addition to the threat of online retailers targeting consumers, local businesses also face challenges from manufacturers and brand companies that they have not traditionally considered as competitors. Locally and internationally these businesses are recognising the opportunities offered via digital channels and increasingly selling direct to consumers. Big brands such as Sony and Apple offer competitively priced deals, exclusive products and customisation options via this strategy.

While local “brick and mortar” retailers clearly recognise the importance and value offered through digital channels and e-commerce, few are really leveraging it to their advantage. Instead of a “set and forget” strategy in order to keep up with increasingly sophisticated consumers; retailers need to adopt an approach that blends the in-store experience for the customer with its online presence. The future of retail needs to be personal, adaptive and offer value to the consumer.

Nordic is offering unique in store solutions to brick and mortar retailers to help them engage with the digital consumer, offer unique in store service offerings, and regain the competitive edge in this connected world. Solutions we offer include:

  • 3D designs and animations of products to provide consumers with real time experience and facilitate product selection
  • User interactive menu selection and ordering on large format touchscreen displays
  • Virtual trial rooms that give the consumer a personalized in-store retail experience
  • Capture in-store consumer behaviour and deliver personalized content to the consumer
  • Customer behavior analytics that provide the retailer with feedback on customer footprint and browsing patterns, heat maps that guide the retailer as to which product is getting more attention
Examples of the solutions offered are given below.