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Metamorphosis in Retail

Metamorphosis in Retail

Posted by Paige Wilcox on Jul 17, 2017 5:19:54 PM
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At CPM we are delighted to feature a blog post from Paige Wilcox, Associate at Eiratech Robotics, about the ever-changing world of retail.

 

Today’s consumers are looking for a more unique and personalised experience when shopping, whether is at a physical shop or on the web. Over the past few years, e-commerce has steadily increased and this trend seems to continue growing in future generations. According to a 2017 report by Inter Trade Ireland, 62% of Irish people had bought online within the past year and in Europe, the growth of B2C e-commerce was 13.3% in 2015.

 

In this article you will find a few options of how brands and retailers alike can bring together the automation & technology of online shopping with the touch & feel experience of a brick-and-mortar retailer. Among them is an innovative solution called Eiracube, a fully robotic shop that is meant to help with the metamorphosis that must occur in retail.

 

Keep reading to find out more about the Eiracube, an innovative approach that will give shoppers the online buying experience while being located in-store.

 

Metamorphosis in retail

The retail world is changing, and changing fast. Retailers will only be able to keep up in one way and that is simply by adapting to their surroundings and circumstances, almost like a chameleon! A chameleon is known for its everchanging skin color, it is vital for its survival and likewise the quicker a store is to adapt the more likely it will be able to survive the upcoming future of retail.

 

In today's world, everything is becoming more automatic and consumers are searching for a more enhanced buying experience. However, this puts one of the most important things about shops in jeopardy. It becomes difficult to keep the same charm while meeting the need of automation and technology. Each and every consumer is unique and unlike any other, in result they want the stores that they shop in to be as well. It is easy to forget about what is remarkably special about your store when there is ever rising demands from consumers. Always keep in mind the three most important things about a strong retailer that are absolutely essential are: maintaining the brand while creating a tasteful uniqueness, allow for constant change, and be able to adapt to those changes as quickly as one can.

 

Nowadays, consumers are looking for their shopping experience to be more personalized, including their online shopping experience. For traditional retailers it may seem almost impossible to cater to each aspect that they need to including uniqueness, charm, maintaining brand, more personalized customer interaction, and consistently changing products and looks. Years ago one might say that it was impossible, but today's technology can ease the hassle of keeping up with each task.

 

Data is the first and foremost necessity of keeping up with the demands of your customers. It is vital to be able to analyze things such as footfall, dwell time, data on customers to help determine a company's ideal customer, and much more. The next step in information gathering is going to take the shopping analysis even further hoping for artificial intelligence to be able to answer questions down to- how is the weather forecast influencing buyers behavior. Determining all of these things will help you to be able to provide the personal and unique buying experience consumers are looking for.

 

eiracube 2.pngAnother way in which you can adapt quickly to the needs of consumers is through the use of the Eiracube. It is a brand new innovation in retail that is meant to help with the metamorphosis that must occur in retail. The design is very futuristic, so it will gain the approval of customers simply because it is not the same traditional retail store that everyone is accustomed to.  One might wonder how this will work when it comes to maintaining their brand, but there will be digital branding all around the store which allows for each company who uses it to be able to ensure the brand essence will not be lost.

 

The fully-robotic store enables consumers to have a brand new shopping experience that neither feels traditional or online. There are some buyers who will never shop online due to the fact that they can't touch the product. The cube is an opportunity that could give the customer the ability to have an online like experience while being able to handle the product, and receive it instantly after purchasing. On the other hand, it eases the buying experience of traditional shops by eliminating the human interaction, need to search for products and lines.

 

Eiracube 3.png

 

The easy onboarding and ability to change products allows for the company to be able to constantly change products, giving their customers something new to see every time that they go shopping. It is a simple way to change your store layout without the stress. This is what the customers are looking for, new and unique goods as often and as quick as they can possibly get them. What better way to do that then use the Eiracube, where you can swap products overnight depending on any preference that may be suited for that day.

 

Additionally, the Eiracube itself analyzes data of the customers who interact with the cube. It will be able to determine the age and gender of customers along with how long they spend browsing and which products they compared and chose. This allows for companies to be able to gather consumer data that would be difficult in traditional stores, or even impossible online. So, not only does the Eiracube solve multiple aspects of customer demands but it saves the hassle of data collection as well. It is a sales tool that will help any company or shopping mall through the metamorphosis of retail.

 

Take a look at the following video and get a glance of the future of retail: 

 

 

 

 

 

 

Topics: Retail