The emerging ‘planned buying’ behaviour of customers along with streamlined and efficient checkout experiences will influence impulse purchases.
Retailers must take these developments into account to optimize their product placement across stores. Implementation of newer modes like curb side pick-ups, drive through pick-ups, shared pick up points for sister brands, can help retain and capture customers who prefer to limit social interactions during the pandemic.
EY helped in developing the custom mobility app enabling customers to self-checkout with a minimum number of steps. The app has an interactive UI, is integrated with the existing billing system and loyalty system to ensure customer purchase history is maintained and points are earned. The technology provides both long term and short-term benefits. It is helpful in reducing the time spent in store and crowding at billing queues during the pandemic. Additionally, it enhances customer experience and engagement.
Retailers need to invest in digital infrastructure in store to improve the shopping experience and efficiency for the customers. This is a double win for retailers as implementing emerging technologies to increase the efficiency of operations in the short term and provide them with substantial and sustainable cost savings across the value chain.
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Summary
Consumer purchase decisions are moving beyond product attributes like price and quality and focusing more on the importance on purchasing channel and safety. Tailoring technology investments and digital transformation with product and customer strategy will enable retailers to optimize customer experiences and stay ahead of competitors.