Shopping in the Future Essay

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Traditional businesses must modernize their physical storefronts and deliver a better customer experience to thrive in this e-commerce era, as online shopping continues to dominate retail trends. Companies that invest in the future supermarket have a better chance of succeeding in Omnichannel retail. Customers will be motivated to visit physical grocery stores if the supermarket of the future provides customer-centric services and greater product knowledge. To save users time, the future supermarket will need to automate a lot of manual activities. Buyers can be given product information via electronic smart screens that can be exhibited in stores.

This might also be tailored for each client using a data collecting system such as Customer Relationship Management (CRM), which would have recorded the customer's buying habits and preferences (Fairhurst, 2001).

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Customers would not need to visit a physical checkout point because the supermarket would use Radio Frequency Identification (RFID) technology. A smart supermarket cart with a computerized payment gateway will be used to recognize a user, the quantity, and the price of items purchased after passing by a sensor device located in the store. In the packaging area, customers could get payment info on their Cart Identification Number (Chandrasekar and Sangeetha, 2014).

In the future, the supermarket will feature a smart shopping list that all customers can access via their smartphones (Jayawilal and Premeratne, 2017Users will be able to see if the units are sold in other retailers or localities.

The supermarket of the future will need to inspire shoppers and provide a better overall experience. The traditional paper tags will be replaced by an electronic tags that will be developed and updated in real-time. This can also help with demand pricing, such as offering discounts on overstocked or near-expiration commodities. This would allow the retailer to make personalized offers based on a customer's profile, recent purchases, and current location inside the store. Buyer interactions will be simplified both in-store and digitally (Ebner, 2021). Customers should be able to see if the products can be sold in other stores or at a different location.

In the future supermarket, shoppers have to be motivated and have a smoother experience. Electronic tags will be generated and updated regularly, obviating the need for printed tags. This can also help with demand pricing, such as offering discounts on excess inventory or near-expired commodities. This would enable the retailer to make personalized services based on a customer's profile, recent purchases, and current location inside the store. Customers will be able to interact with you more easily in-store and online (Ebner, 2021).

Customers will be informed of the price of the product and will be able to match them to similar products using digital price tags

Marketers can reach customers based on their physical location, either online or offline, using location-based marketing. About the retailer's location, marketing teams may select their audience based on local happenings as well as other criteria (Tussyadiah, 2012).

To develop better-tailored advertisements, this type of marketing combines geo-targeting and location-specific data. Brands have become easier to discover as a result of location-based mobile marketing, and they've effectively integrated it into a bigger focused marketing strategy that includes social platforms, push alerts, email lists, and outdoor advertising (Banerjee and Dholakia, 2008). Both vendors and customers accept destination-based marketing; however, privacy, secrecy, and fairness issues have been raised regarding firms tracking where their purchasers are at all times.

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Shopping in the Future Essay. (2024, April 18). Edubirdie. Retrieved June 22, 2024, from https://edubirdie.com/examples/shopping-in-the-future-essay/
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Shopping in the Future Essay. [online]. Available at: <https://edubirdie.com/examples/shopping-in-the-future-essay/> [Accessed 22 Jun. 2024].
Shopping in the Future Essay [Internet]. Edubirdie. 2024 Apr 18 [cited 2024 Jun 22]. Available from: https://edubirdie.com/examples/shopping-in-the-future-essay/
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