The retail industry has seen many changes over the years. This fact is especially true when it comes to the effect of marketing intelligence and technology on shopping trends. Incorporating information learned through marketing intelligence and using technology to make the shopping experience more convenient can both lead to better sales and increased profit.
Marketing intelligence is a great tool that allows retail stores to understand more about customers and their experiences with the company. This tool analyzes customer relationships and customer experience management, allowing retail stores to enhance the customer’s experience and build rapport with said customer. This allows the retail store to build a more loyal customer following, effectively increasing sales and profits for the retail company.
Technology has played an important role in the evolution of retail shopping. Marketing intelligence reveals that customers prefer that technology be incorporated into the shopping experience due to the convenience it brings about. Preferred technology varies, from debit and credit card readers in store to mobile-friendly websites and apps online.
The infographic below gives a snapshot of how the retail industry has evolved over the years and where we can expect it go in the future.