Retailers increase spending on in-store technology to enhance the customer experience
The majority of UK retailers are planning to increase their investment in in-store technology, a survey has found.
73 per cent said they would buy new technology, focusing on transitioning from a traditional form of retail to a more technology-focused one in the next two years, according to VoucherCodes.co.uk and RetailMeNot.
The reasons for these developments include increasing sales and brand loyalty and meeting and maintaining customer satisfaction.
55 per cent of retailers say enhancing customer experience is their main goal, and so with this in mind technological investment is a priority.
Accordingly, 59 per cent of retailers cited customer loyalty as the main reason for increasing spending on new technology.
In the future, 80 per cent of the retailers surveyed said they would be focusing on development of mobile payments, while 76 per cent said they were planning to develop partnerships with third-party platforms to promote offers. 65 per cent also said they were making efforts to develop their own apps to increase sales and boost customer experience.
Currently 80 per cent of large retailers said they allow customers to view their in-store stock online to establish if products are available and 88 per cent said they offer real-time promotions, as well as other features using technological innovations.
These results were taken from over 200 marketing executives from high-profile European retail brands, based in the UK, France, the Netherlands and Germany.
Severine Philardeau, vice president of retail and brand solutions at VoucherCodes.co.uk at RetailMeNot, said: “The high street experience has not lost its value and is still very important to consumers, with 90 per cent of European sales still happening in the bricks-and-mortar.
“Whilst online sales are still growing, and this is now mainly driven by mobile, we also see a general integration of technology into the shopping experience.
“Retailers are now looking to move towards one unified omni-channel experience, finding new and innovative ways to increase footfall and drive instore sales.”