Millennial-Driven Changes To Retail Technology

Are you ready for the group that has replaced the baby boomers as the finanacial juggernaut that will determine the style and demands of retail for the next 10 years?

roinMillennials (the generation born roughly between 1980 and 2000) are emerging as a retail juggernaut. According to data from Accenture, there are around 80 million Millennials in the U.S., and they spend $600 billion annually. By 2020, the firm expects their spending to grow to 1.4 trillion and make up as much as 30 percent of total retail sales.

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The death of retail or a retail renaissance: Which is it?

It’s the same story retold over and over again. Innovate or die. The market even in bad times, has retailers that do well and other that perish. The difference is, the ones that prosper nad grow are the ones that continue to innovate, adapt and understand the changing customer needs. The rise of online shopping is no different. How is your business changing and adpating to the changing customer needs? The article is good guide to benchmark your business activity in meeting this challenge.

RCE_comBoth property companies and retailers are reporting a crisis and the death of retail. Stores are being shut down or shrinking their footprints, and the traditional retail format with merchandise lined up on shelves is a dying breed.

Yet at the same time there is a renaissance going on in retail, and we are seeing examples of brands and retailers who are able to reinvent their businesses and adapt to a new market and new consumer behaviours — allowing them to increase customer loyalty in the bargain.

So what are the success factors driving this? And what will the stores that succeed in reinventing themselves in a world where the digital is merging with the physical look like?    http://bit.ly/BK2AGzFCC

Augmented reality apps: 5 keys to spur customer retention, enhanced experience

A good article on keys area of consideration, if you’re weighing up how you enter the AR market. The good news for Beyond Retail is the Blinxel 3D AR application we work with, meets and exceeds the 5 key points listed in this article. The area it doesn’t cover is cost and for many retailers this can be prohibitive. Blinxel AR has solved this problem and will conservatively reduce the cost of producing an AR product for a mobile device by a factor of 10 or more. That’s right I said, it will reduce the cost to 1/10th of whats happening now. Exciting times. Enjoy the article and if you want to now more contact us at ar@beyondretail.com.au

RCE_comMost retailers are to looking get products and services into the hands and eyes of customers anytime, anywhere, coupled with a high-quality and consistent brand experience. One-way engagement mechanisms such as SMS, email, print, and TV advertising are passive, akin to sending a letter via stagecoach and then waiting around wondering, “Did they receive it?”

Now augmented reality apps are emerging that deliver rich, highly interactive, two-way experiences that visually engage customers and extend products and services to fingertip access, both inside and outside the store. Central to AR apps is they are tailor-made for mobile devices. Houzz reports that mobile users who engage AR are 11x more likely to purchase and spend 2.7x more time in the app.

http://bit.ly/BR2n6vre8