Technology

4 retail strategies for an uncertain future and the technologies to support them

Comcast Business VP of product management and strategy Christian Nascimento offers up four strategies for retailers striving to meet and exceed consumer needs such as personalization and a safe, convenient shopping environment.

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February 2, 2021 by Christian Nascimento — Vice President, Product Management, Strategy, Comcast Business

Retailers everywhere have had to scramble to rethink traditional sales and communications strategies in response to the lingering COVID-19 public health crisis, due in large part to a drop in foot traffic and in-person interactions.

The initial shift occurred almost overnight, but the move away from in-person communications and transactions will impact retail operations for the foreseeable future, especially in light of concerns about a second outbreak.

Additionally, consumer needs have changed as well; they still desire personalization, but they also want a safe, convenient shopping environment. Retailers have to adapt quickly to meet these new needs. Consider these four strategies:

1. Keep curbside pickup. Or add it if you don't have it yet. Curbside pickup is an ideal way to safely limit a consumer's in-store experience and deliver their purchases without the extra charges or long waits that can come with shipping. While curbside pickup is having a moment during the pandemic, it will remain an attractive option for many shoppers well into the future.
2. Add or shore up e-commerce capabilities. Not every brand offered an e-commerce option before this year, and some still don't have it. But they should: Online shopping has helped some retailers survive pandemic-related drops in foot traffic. Plus, consumer desire for an e-commerce option is not going away any time soon. Shoppers choose not to go to a physical store for reasons unrelated to health concerns — bad weather, lack of time or parking, not wanting to wrangle small children, and so on. Stores that don't provide this convenience may lose out to those who do.
3. Make your touchpoints touchless. Even for in-store purchases, many consumers now are comfortable using digital wallets or QR codes to make purchases without having to exchange cash or cards with cashiers. It saves time, and it's more hygienic, as shoppers only need to touch their own smartphones.
4. Implement digital concierge services. In-store sales associates aren't able to be very hands-on right now, and many stores have moved away from tactics like offering food samples or allowing customers to try on makeup. Yet consumers still seek expert opinions and ways to "try before they buy." Retailers can provide concierge services via video, and even enable augmented reality solutions to allow customers to visualize products in their home or clothes and makeup on their body.

Supporting new strategies with technology

Implementing these strategies will require some planning and investment. They're likely to increase online traffic, will create new fulfillment and delivery expectations, and will require always-on availability for customers in remote locations.

Some of the technologies that can help support these strategies include:

Customer data management solutions: Retailers can still create a personalized touch with unified, central customer profiles that allow instant access to known customer data and transaction histories. This will help a variety of roles within a retailer (sales, customer support, marketing, etc.) understand customer preferences and histories, and respond accordingly — whether digitally or in person.
Data analytics: Real-time analytics can analyze customer behavior, gauge sentiment, and orchestrate experiences across all channels — virtual and in-store. Not only can data analytics help retailers provide individual customers with better experiences, but it also will reveal overall buying trends and behaviors, allowing stores to pivot to new products and strategies.
The cloud: The cloud is the backbone of many connected systems and technologies. It supports data analytics and ensures customer data is immediately available across the organization. It also is needed to seamlessly connect ecommerce, curbside pickup and in-store inventory databases, so inventory availability levels are accurate in real time.
Secure, high-speed broadband: The remote and location-based video capabilities needed to support digital concierges and augmented reality tools will require upgrades in bandwidth and connectivity. Mobile POS capabilities also may need to be augmented to accept contactless forms of payment. Likewise, ecommerce and curbside pickup require reliable, business-quality connectivity, including redundancy in case the power goes out, so customers can browse and buy at any time. Retailers also need cybersecurity safeguards, so customers know their data is always protected.
Voice solutions: Retailers must ensure they can meet and connect with their customers where they are now — even when face-to-face interactions aren't possible. Voice and unified communications solutions that are accessible from anywhere ensure sales personal and digital concierges are always within customer reach.

Get ready for a new future

Now is the time to rethink retail strategies for the future and implement a combination of new customer experience approaches and back-end technology infrastructure. While digital sales and communications channels aren't an exact replacement for human interactions, they're ideal for supplementing and augmenting face-to-face experiences and providing personalization — and they're safer for customers and staff alike.

Christian Nascimento is VP of product management and strategy at Comcast Business