Software AG Singapore has released its top predictions for the retail industry in 2017. According to the company retailers will again strive to match Amazon’s sales and fulfillment model, engage new channels, geek up their stores, and use technology to refine inventory management and anticipate customer desires in 2017.
The anticipatory customer experience in particular will allow retailers to manage customer expectations earlier and earlier in the sales process, which in turn, can help retailers solidify emotional attachments to their brand, offering customers what they want before they even know that they want it, Software AG said.
Amazon-isation
There will be further 'Amazonisation' of retail, with new market entrants – as well as existing retailers - trying to emulate e-retailer Amazon's disruption of traditional retail with new ways to sell, fulfill and deliver products to eager, often impatient, consumers.
Channel hopping without remotes
Retailers will quickly adapt and connect into new channels to engage with customers, using avenues including conversational commerce – commerce facilitated by Amazon Echo or Bots in Facebook Messenger.
Find more
Real-time inventory will be a reality, as more retailers realise that a rip-and-replace programme for core merchandising, warehouse and store systems is not the best – or the quickest - way forward. The smartest retailers will look for other approaches like in-memory caching combined with high speed messaging in order to provide real-time inventory levels across every location, channel, store and shipment.
Stores geek up
Customers want to see techie gadgets when they go into brick-and-mortar stores, and retailers are going to add technology like robots that give directions, kiosks for in-store ordering, and 'magic mirrors' - displays that superimpose clothing onto customers'images - for trying on clothes.
Chat about grocery shopping
The Internet of Things (IoT) will start to creep into kitchens as devices like Amazon Echo, Hiku and others allow consumers to add things to their shopping lists verbally. Conversational commerce will eventually lead to cognitive commerce over the next few years.
2017 will also see businesses and services streamlining their customer-facing services by launching chatbots on major social media networks. According to research by analyst firm Juniper Research, Asian markets are more advanced in their usage of chatbots with China-based social networking giant WeChat already actively leveraging on chatbots to improve its services. Chatbot interactions are expected to become more mainstream in 2017.
Interested?
Read the TechTrade Asia blog post about how Microsoft is tackling conversational computing
The anticipatory customer experience in particular will allow retailers to manage customer expectations earlier and earlier in the sales process, which in turn, can help retailers solidify emotional attachments to their brand, offering customers what they want before they even know that they want it, Software AG said.
Amazon-isation
There will be further 'Amazonisation' of retail, with new market entrants – as well as existing retailers - trying to emulate e-retailer Amazon's disruption of traditional retail with new ways to sell, fulfill and deliver products to eager, often impatient, consumers.
Channel hopping without remotes
Retailers will quickly adapt and connect into new channels to engage with customers, using avenues including conversational commerce – commerce facilitated by Amazon Echo or Bots in Facebook Messenger.
Find more
Real-time inventory will be a reality, as more retailers realise that a rip-and-replace programme for core merchandising, warehouse and store systems is not the best – or the quickest - way forward. The smartest retailers will look for other approaches like in-memory caching combined with high speed messaging in order to provide real-time inventory levels across every location, channel, store and shipment.
Stores geek up
Customers want to see techie gadgets when they go into brick-and-mortar stores, and retailers are going to add technology like robots that give directions, kiosks for in-store ordering, and 'magic mirrors' - displays that superimpose clothing onto customers'images - for trying on clothes.
Chat about grocery shopping
The Internet of Things (IoT) will start to creep into kitchens as devices like Amazon Echo, Hiku and others allow consumers to add things to their shopping lists verbally. Conversational commerce will eventually lead to cognitive commerce over the next few years.
2017 will also see businesses and services streamlining their customer-facing services by launching chatbots on major social media networks. According to research by analyst firm Juniper Research, Asian markets are more advanced in their usage of chatbots with China-based social networking giant WeChat already actively leveraging on chatbots to improve its services. Chatbot interactions are expected to become more mainstream in 2017.
Interested?
Read the TechTrade Asia blog post about how Microsoft is tackling conversational computing
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