From a perfectly designed “Back to School” island on a store floor to simple yet easily understandable navigation tabs on an online platform, merchandising managers spend a lot of time trying to create truly engaging experiences for shoppers. This complete personalization can be complemented by targeted promotions, dedicated web pages, and loyalty programs that consistently convert visitor traffic into loyal customers and increase sales.
Social commerce is a relatively new term used to define the new method of the purchasing process: consumers use social media as a first source of information and a means to purchase products. This is where platforms like Instagram, TikTok, and Pinterest come into play. In many ways, they are incredible sales machines through which brands can use curated content and influencer marketing as additional tools to reach customers.
Social commerce is an emerging retail trend that has ceo email list generated $45 billion in the past few years. It is projected to triple in the coming years as more people realize the convenience of purchasing goods and services directly from their social networks. Merchandising software greatly contributes to achieving this integration by allowing brands to create content with buy buttons, run influencer campaigns, and monitor the performance of social commerce campaigns.
Artificial intelligence
AI is revolutionizing the retail industry by ensuring efficient merchandising and in-store operations. Artificial intelligence and machine learning are changing inventory management with their predictive capabilities and streamlined approach to forecasting demand, maximizing stock, and reducing waste. It is also transforming the payments industry with advanced forms of payment such as contactless and contactless payment.
RFID tracking and IoT
In the asset management space, radio frequency identification (RFID) technology and IoT have introduced unprecedented visibility and control for retailers. RFID tags, embedded with digitized product information, enable real-time tracking of inventory, even for items that are out of sight or in transit.