A customer in a shopping mall today uses all of the latest technology that is available to them, engages in dialogue with retailers to provide feedback on their experiences, but are they really having fun, asks Darren Katz, managing director of Excellerate Brand Management.

"There are brands out there that have gone the extra mile when it comes to pairing unique and unforgettable experiences with their products," he notes.

"But, what really concerns me is that they are not doing it in shopping malls. We are living in a world right now where it is all about 'me' as a consumer, and this begs the question of how you, as a brand, can make experiences that are catered to me and my needs."

The key drivers that are making this possible, he says, are digital, mobile apps, websites and data. "The interesting thing is how we can use data to create experiences, which change the way consumers think about retail space. Yes, we have a wonderful shopping mall with lots of shop variety, entertainment offerings, F&B dining outlets, and live acts that bring in curious customers, but are they relevant?"

"It is the little experiences that we provide for people, that actually don't come at much of a cost, but leave something with us that we are able to share with others, which are important," he said. "A lot of what people remember for a long time also has to do with the instant gratification that they felt at that time."

In addition, Katz also said that in providing customers with a unique and relevant experience, many brands may lag behind the success of their competitors. This happens because they might not have the technology or the expertise required. One of the best ways around this hurdle is by collaboration, he said.

Like Katz, Herculano Rodrigues, associate director of Javelin Group - Accenture Strategy London, said that understanding shoppers and what motivates them is critical for retail success.

Shoppers have now taken control of the purchasing journey, and the most successful retailers are those with a compelling end to end customer experience.

"The future for retail is going to be bright," he said. "A lot of the shift in retail today, has gone towards empowering the customer. And customers want brands that offer them convenience services. There are curtain companies today that offer to come to your house and measure your windows to create the perfect drapes fixtures for you, so that you don't have to do anything beyond selecting the design and colour and paying. People can shop for groceries without having to even set foot in a store. Services are replacing products."

He also pointed out that automated retail or Internet of Things retail is going to become even more popular in the coming years, but that certain challenges will remain for retailers in terms of adoption of new technology.

"I don't think that there is a one technology answer that can solve all your questions, so the challenge is to test them all out to see which ones are right for your business. But, remember that at the end of the day, it all starts with the customer, because once they are happy with the tailored experience that you have provided to them, the rest will all fall into place."

Source: Khaleej Times