Ever since technologies like Augmented Reality (AR) and Virtual Reality (VR) started transforming the retail landscape, customer experiences and management have become more agile, engaging and fun. This is because today’s physical stores present a great opportunity for retailers to connect with their customers, attract them with lucrative offers, and inspire loyalty. On the other hand, customers are also becoming more and more tech-savvy, and are demanding personalized shopping experiences like never before. Indeed, this increasing demand for better experiences has put a lot of pressure on retailers; as they try to stay ahead of their rivals. However, the question remains - are we exploring the full potential of AI, AR and VR yet? The answer is - no. Today’s retailers are still scratching the surface of the numerous possibilities that lie ahead.
In a bid to fill this void in shopping experiences, they are in a constant hunt for solutions that can - 1) Accurately measure the in-store traffic 2) Gauge their customers’ behavior and 3) Analyze the propensity of purchase. This is exactly (and a lot more) what Retail7 has to offer.
What is Retail7?
Retail7 is a complete retail store management solution that strategically leverages the leading-edge technologies to help retail stores better understand their customers’ shopping behavior; the moment they step into the shopping premises. The solution helps retailers craft compelling shopping experiences that translate into an increase in the number of loyal customers. Ultimately, retailers will be able to achieve top-line business growth.
Key Features of Retail7
1. Integrated AR/VR Experiences
Retail7 enables store visitors and customers to enjoy immersive shopping experiences via AR and VR technologies that are scalable in all aspects. It provides storekeepers visual scenes, product images, AR/VR ready files and content that are future-proof for continuous customer engagements.
2. AI-based In-store Navigation
Retail7 deploys AI-powered smart devices, and progressive web apps to help customers find their way around the store, as well as to find their preferred items in an easy and convenient way.
3. Measurement of Customer Loyalty and Engagement
The solution effectively leverages the visitor and customer data to measure key metrics such as visit frequency, repeated visits, cross-shopping and cross-store visits. This helps retailers to determine the best approach that can be adopted to drive conversions and loyalty for each of their customer segments.
4. Automated Checkouts
Retail7 can help retailers reduce their operational expenditure by automating checkout counters across the stores. In a gist, the solution can enable seamless payments via digital wallets, UPI, and mPOS to simplify the buying process for customers and help them avoid long queues at the billing counters. This saves time and injects agility into the business.
What can Businesses Expect from Retail7?
1. Deep Insights into Visitor Behavioral Data
As the number of customers increases over time, your CRM and database experience a higher influx of data. Retail7’s machine learning capabilities can process this vast data and predict customer behavior and buying patterns with high accuracy. This helps retailers to personalize their product recommendations based on the shopper’s unique interests.
2. Scalable On-Demand Infrastructure
As Retail7 is a cloud-based SaaS solution, it efficiently scales the operations across any number of stores and geographical boundaries. That’s not all. The solution is highly customizable; i.e. it can scale your infrastructure – up or down – as per your specific requirements.
3. The Ability to Add New Services
As technologies evolve from time to time, retailers need to keep up with the transition. To meet this necessity, Retail7 can accommodate new features and functionalities that best aligns with your store infrastructure. Moreover, this comes with the ability to customize them as per the retailers’ specific business requirements.
Key Benefits in a Nutshell
- Better mapping of the customer journey and building stronger connections
- Increased customer engagement and loyalty
- Optimized retail omnichannel operations
- Optimized sales staff performance
- Effective customer segmentation and campaign planning
- Better inventory optimization and liquidation for store owners
- Increased sales conversion
- Effective Advertising Platform
- Enables 1:1 Personalization at scale
- Increases App Engagement and Retention
- Instant gratification for loyal customers
The retail industry is progressing at an alarming rate. Standing apart is perhaps the only way to stay ahead of the herd. When it comes to the capabilities of Retail7 and the level of innovation it has to offer, this is just a small piece of a big picture.
Originally published , updated May 07 2018