The document discusses the future of the retail store and how technology will transform the retail experience. Major retail bankruptcies in recent years are due to changing customer expectations and the rise of online shopping. The new consumer expects the same personalized, convenient experience online and in-store. Retail stores will unify physical and digital experiences by becoming smart hubs that use technologies like AI, analytics and mobile to better understand customers and engage with them in-store in real-time. This will help redefine the purpose of the physical store.

1. THE RETAIL
STORE OF
THE FUTURE
A Quick Glance at the

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Why is retail ripe for digitization
In 2017, there have been nine major retail
bankruptcies — already tying with 2016, which
is proof retail has seen major concerns with
customer expectations in the past two years.
All these closures are a direct result of the
Amazon effect. In the last 7 years, Amazon North
America sales have quintupled from $16 billion
to $80 billion.

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Meet the new consumer
Most consumers today are considered
“smartphone shoppers.” The typical shopper is
accustomed to a very high degree of
convenience, choice and accessibility.
Features that are standard in the world of
online shopping, such as personalized
recommendations, customer-sourced product
reviews, wide variety and 1-click everything are
just as expected within a store.

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Unification of physical & digital world
Normalization of the industry will happen not by
turning digital but through the unification of brick
and mortar stores with digital experiences.
Amazon buying Whole Foods is a great example.
In the next 5 years, retail stores will transform
into smart retail hubs or warehouses that double
down as experience centers for its customer.

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Smart Retail: The Future of Retail
New technologies such as artificial intelligence and machine
learning, VR, AR, big data analytics, voice recognition and image
recognition are shaping the future of retail. However, simply
putting more technology into a store does not make that outlet
“smart”.
Success will come from blending technology and more traditional
techniques in a way that offers memorable, personalized
experiences to customers. This means that the basic function of
the retail store needs to be re-imagined.

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The Retail Blind Spot
Most physical retailers, have no real-time insight
into what influences and drives customer attitudes
and behaviors. At best, they could conduct market
research through surveys.
Aside from having to ask customers to donate their
valuable time, there are numerous sources of errors
in these kinds of research methods.

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How can retailers understand in-store
customer behavior?
Mobile technologies that work on top of the WiFi network now
allow retailers to collect a wealth of data on their in-store visitors.
Wi-Fi based location analytics is the starting point of digitization
in retail. It gives you a deeper understanding of who your
customers are and what they want. Moreover, digital
transformation is about pivoting towards rapid incrementalism —
incrementally and easily optimizing existing structures to make
the most of what is already in place.

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How location technology can transform your
retail store
Connect with in-store
customers instantly
Acquire at-location
customers digitally
Get footfall analytics &
understand in-store
customer behavior
Know in-store customer
personas
Engage with customers real-
time based on their persona
& behavior

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The retail store of the future
Technology has changed the way consumers approach
nearly every aspect of their lives. The new age
consumers are increasingly relying on mobile devices for
everything from entertainment, transportation to
shopping. With technology absorbing deeper into the
consumer behavior, retailers now must adapt to this
change.
Our latest whitepaper ”The Physical Store of the Future”
can help you understand the process of digitizing every
aspect of the shopping journey.
It takes a practical approach to re-imagining retail,
redefining the purpose of the store and using analytics
to guide and drive this transformation
GET THE WHITEPAPER

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About July Systems
Founded in 2001, we are pioneers in mobile experience
and engagement platforms. Through a process of
continuous innovation we have stayed ahead of the
curve in a fast changing mobile landscape. We’re now
on a mission to digitize physical spaces through our
latest product Proximity MX, a SaaS tool that provides
location analytics and mobile customer engagements for
physical spaces.
Connect with us:
www.julysystems.com | Facebook | Twitter | LinkedIn

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