What does 2018 hold for retail marketers? Here are some of the retail marketings that senior executives from some of the top marketing technology firms foresee to happen this year:
Rise of Artificial Intelligence in retail marketing
Artificial Intelligence (AI) use will grow further this year. One expectation is for it to boost aid visual recognition in opening up exciting sales opportunities for many retail businesses. For instance, visual search for items via mobile is foreseen to become more common this year.
Customer service, which has traditionally relied on phone calls and emails, will slowly shift to AI-powered bots. Social messaging, too, will be on the rise as customer service departments look for ways to better serve their customers in a faster and more efficient way.
Many customers, too, will be depending on smart assistants to recommend and even buy products and avail of services for them.
Mobile marketing becomes the norm in retail marketing
Mobile devices such as smartphones and tablets will continue to evolve, becoming more powerful in each passing day. Smart retail marketers will capitalize on this trend by offering more personalized experiences to target customers. Look for more retail businesses to allocate higher budget to mobile-based campaigns.
Mobile Wallets become commonplace
Retail businesses will also be cashing in on the increase in the popularity of mobile wallets. Companies now realize that virtual wallets can increase their sales because it can make payment easier for customers. Moreover, many brands will use mobile wallets for non-payment activities such as ticket scanning and coupon redemption to boost brand loyalty and retain more customers.
Focus on location intelligence
Many retail businesses will also focus more on location intelligence this year. Brands will exert more effort to gather and analyze historical location data as well as behavioral patterns to get a better understanding of consumer preferences and habits.
Multi-formal video advertising
Retail marketing will also zero in on television as part of one single cross-screen video advertising strategy. Television will be integrated with other channels like mobile devices, desktop PCs, and social media. Retail brands will then focus on TV to promote their products and services at the household level.
End of Passwords
Finally, consumer blockchain applications will become more prevalent in use. This means that the use of passwords in apps and programs, which has been the norm since the advent of the Internet in the mid-90s, will soon die out.