(Image Source: The Drum)
The pandemic has forced consumers to bring their shopping to virtual spaces. One benefit of online retail is that brands can easily collect customers’ data and analyze their behaviors to tailor a better shopping experience and boost sales. However, applying the power of data to brick-and-mortar stores is a lot more difficult.
In fact, few retailers have been successful in taking creative, hybrid approaches to build data-driven stores. The pioneer is Amazon Go with their digital store and the Drum is close behind with its concept store, CornerShop. The latter is equipped with a motion-tracking tool and heat map; this allows the owner to know exactly how shoppers move around the shop and which products are getting more traffic. There is even an interactive digital shelf that presents you products related to your personal preferences, which you have filled in via a corresponding store app at entry.
Meanwhile at the shelf of AZ Factory, SharpEnd has installed the NFT clothing line. By scanning the NFT tag, customers can explore innovative designs and other craft-led insights behind the brand. Buying NFTs are becoming more and more common lately an NFT or crypto tracker is becoming a must. For the retailer, this helps them collect consumers’ info for marketing purposes and R&D. The digital-led retail exhibition has been open to all public, with the hope that they would interact with the installations onsite. The data collected in-store will then be utilised to improve future concepts to suit consumer needs.