Today’s sophisticated retailers try to differentiate itself from today's competitive market. Over the past couple of decades, there has been changes in retail industry. For example, made-to-order market for clothing has changed to ready-to-wear market. Flipping through a type of clothing a person wanted to purchase at the store. More competitive as retailers are exploring new tools and way to reach their markets.
Consumers are connected than ever before, we have more choices to meet our needs and rely on social connections rather than physical connections. According to the Internet World Statistic (IWC), more than 50% of the population has an access to internet by December 2017 and North America followed by Europe 85% is leading regions.
Now groceries to clothing Brand’s have online shops and delivery service and e-commerce is growing like mushrooms after the rain. It makes easy for consumers; pick the colour, size and design from website just same experience as the corner shop. First players like Amazon and eBay back then 1995 started with books and it used to have only texts.
First version of Amazon website
If you have asked me last year, would I use online shopping? - my answer was NO. But today my answer has changed and I trust them and find it convenient. Hustle to queue in pay my bills, communicate with customer service people whom might first day at the work and wouldn’t much helpful at all and stress myself over miscommunication, ask specific product over and over again from different stores etc. Now I just click the magic button.
You browse through a range of product/services and click the magic button.
My grocery shop delivers at home every Friday, my favourite cosmetic brand knows it’s time to replenish, clothing brand recommend the latest trend based on my past purchase, my mobile operator reminds me to pay the bill, applications that know my taste of music and movie… thanks to Artificial Intelligence (AI) which has a big impact.
As long as we are connected to digital world AI has big leverage of data. It can learn by itself and predict consumers’ next decision. One of the biggest example is that Pixoneye is offering a magical photo recognition and predict what customers would do next two months and to read here.
Today I would choose online rather than physical store because they know me, might know me well more than my Boyfriend who has spent 4 years with me. 🙂 It’s easy, convenient, allows me to compare the prices and designs, I don’t need to go to the store to pick up, they have delivery and return services!