LONDON--(BUSINESS WIRE)--A well-known market intelligence company, Infiniti Research, has announced the completion of their recent article on the role of customer intelligence in the future of retail. This article discusses the role of competitive intelligence in the retail industry and also highlights why it will be a vital tool for retailers in the future.
Today, customer journeys are largely being transformed by technology. Consumers are more connected and empowered than ever before which means that retailers must focus on providing relevant and seamless screen-to-store retail experiences. Retailers having a comprehensive understanding of their target customers are more likely to succeed amidst the changing retail scenarios. This is where the role of customer intelligence comes into play.
The future of retail lies in providing exceptional customer experience regardless of whether your store is online or offline. Request a free proposal to know how Infiniti’s solutions can help your business gain a deeper understanding of your customer base and choose the right strategies to cater to them.
Customer intelligence in the future of retail
Growing rate of informed customers
With the advent of technology, modern customers now have unlimited access to information. Consequently, they have adequate knowledge about a brand, their products or services, and also about the competitor brands. The future of retail will largely be dominated by demanding customers, and businesses that choose to ignore them will be risking a PR disaster. Customer intelligence is the best chance available for retailers to understand its customers and ensure better customer service.
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Personalized rewards and discounts
IoT will play a significant role in the future of retail to help retailers to reward their loyal customers with personalized offers and discounts. Loyal customers can be sent personalized discounts using sensors located in the store. These sensors can detect when customers are near certain products and then alert customers of a special discount via their smartphones. By understanding customers and giving them discounts on the products that they regularly shop will result in customer delight and such techniques will eventually go mainstream in the near future.
Better supply chain management
Retail customers are increasingly demanding faster delivery of high-quality products. Customer intelligence solutions can help optimize speed and accuracy through the supply chain. Retailers can use it to predict what products will be in demand during a particular time period.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit:https://www.infinitiresearch.com/about-us