igital innovation changed the stores as well – it was inevitable!
In recent years, digitization has impacted the whole world, and the retail world was no different. In fact, the transition to digital stores has become more predominant, especially after the COVID-19 pandemic hit. Although companies had already previously embraced this trend, that was the significant push that drove even more stores to adopt digital solutions.
The inception of digital transformation dates back to 1982, marked by the launch of the first-ever online store. The underlying objective of this digital marketplace was to offer individuals a platform to sell their outdated computers. Considering the bulky nature of computers in the past, occupying substantial space and weight, the emergence of online selling proved to be a timely solution, benefiting all stakeholders.
Another factor contributing to the shift toward digital buying is the expansion of social media and online marketplaces. These platforms allow users to learn about new products and make purchases in a simple and easy way, while also giving businesses a new method to connect with and engage with their customers.
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In stores, we don’t have much time to think if we are making the best purchase. But, online, we can compare the prices and the products and find the best one for our needs. And these days, this can be applied to almost any product we think of. Choosing the right headphones or the right running sneakers is easier than before.
Another notable benefit of digitization is the opportunity to access product reviews. While shopping in-store, one is confined to forming an opinion solely based on personal experience. However, online platforms provide the advantage of analyzing the feedback of other consumers who have previously used the product, offering valuable insights and opinions.
Due to these external factors, new technology has altered the reality that we live in, forcing companies to go digital. For this reason, with the growing awareness of digital shopping, retailers had to implement online platforms or mobile apps in their strategy to stay relevant and satisfy the ever-changing consumer needs. Even more so, the digital transformation is quickly being implemented in the retail industry as well.
But this is not a bad thing!
On the contrary! Not only does this enhance the customer experience, but even companies can benefit from this development. Digitized new technology gave retailers the chance to grow and expand their business in ways that weren’t conceivable before. In fact, the benefits of digital technology for stores are endless.
Consider this! Now that our store has a digital platform, everyone in this world can reach us. For this reason, digital innovation has made it possible for retailers to expand their reach beyond physical locations. This made it easier for customers who don’t live near the store or even in the city where the store is located to buy products.
Even more so, it gives the possibility of stores increasing their revenues, by making the shopping experience easier than ever. With digital transformation, instead of personally going to the store, they can just do it with a few clicks. And if we’re lucky, it only takes one ad.
However digital innovation has had another impact on retail: it reduces costs by eliminating in-store personnel positions while still providing exceptional customer service through automation technologies. Even more so, it cuts down costs that are necessary for sustaining a physical store, such as electricity, cleaning, and maintenance.
So what does that mean for customers?
Let’s face it – we are all busy with our lives! Whether it is school, work, or taking care of family, we can all agree that once we reach a certain age, shopping has become more of a chore rather than a pleasurable experience. This can be even more problematic for those who finish their jobs or classes after closing time or for those with mobility issues.
But the power of digital technology made it possible for all of us to cross one responsibility off our chores list, allowing us to purchase products at any time of day or night. Right from our couch! Today, practically anything can be done with only a couple of clicks wherever we are whether it is restocking our groceries, buying a new shirt or even purchasing the furniture of an entire house.
Besides the ease and convenience of digital shopping, it can even provide us with a personalized and customized shopping experience. Think about it! We all had a moment in which we saw a cute piece of clothing, but it was too expensive. We decided that it was not worth paying that much money. Now, with digital stores, we can receive emails or notifications that the product we were eyeing is now discounted.
Whether we like it or not, technology is slowly taking over every industry, especially retail. So, we need to embrace the digital world!
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