Industry 4.0, or the fourth industrial revolution, is distinguished by the use and implementation of modern technologies that blur the lines between the physical and digital worlds, driving real-time access to new and existing data sources.
Coupled with powerful analytical tools such as visualization, analytics, and predictive learning algorithms, this access to data is fundamentally changing the way that businesses operate.
For example, retailers can now collect large data sets from physical spaces in real time, perform advanced analytics to generate new insights and make more effective decisions.
At its core, this digital revolution is evolving the way products are designed, created, and delivered to customers, and has rich effects for the retail value chain.
But… Are we taking enough advantage of this new world of opportunities in retail?
From Ladorian we are clear that the borders between virtual and physical retailers have collapsed.
In case you want to improve the experience of your customers while increasing the average purchase ticket, we recommend that you continue reading and learn how you could boost physical spaces through personalization that allows the usage of a recommendation engine and the customization of products.
How to recommend the right products to the right person.
Currently customers are swamped with a multitude of offers and product promotions.
In most buying decisions, the choice is so overwhelming that they don’t even know what to buy anymore.
To prevent customers from getting discouraged and losing the desire to visit our physical stores, we can use the power of predictive product recommendations in real time.
This will help us create a simple and personalized shopping experience for each of our visitors, which will help us attract and retain our customers.
Offering the right products or services to the right customers is not only key in terms of displaying truly relevant content, but also the key to success in winning and retaining customers while successfully engaging with them.
Artificial intelligence is transforming retail to make in-store shopping more efficient and personalized with the help of predictive analytics and guided selling systems.
The power of recommendations: Ladorian
Recommendations are the most powerful tool for increasing conversions, raising average purchase value, and building strong relationships with every customer.
In addition, they are an extremely valuable source of information.
Individualization and interactivity are the two key subjects emerging for retailers in the age of digital power.
In the first case, retailers can have personalized and tailored communication, based on the customer’s personal purchasing preferences through all channels (Omnichannel Strategy).
In the second case, retailers can use dynamic content strategies that allow messaging to be easily adjusted based on customer profiles.
One of the technologies that combines both capacities is Ladorian’s Prime Time Algorithm, through its recommendation engine, it analyses infinite data and information that will produce logical and objective decisions in your marketing strategy at the point of sale.
This technology, for example, is capable of offering physical stores the possibility of being totally initiative-taking by dynamically controlling the communication of an entire group of stores from a single place.
We must explore new ways to build services and experiences as a proposal around our products.
Increasing engagement with customers will help add value and create an opportunity to develop lasting relationships, which is why we must explore and seize the opportunities that arise from micro-segmentation using data and advanced analytics engines.
We must focus on personalization to meet the growing expectations of consumers.
And remember… The journey begins with understanding the needs of your customers.
In the new digital era of industry 4.0, the challenge for any retailer lies in the ability to build a culture of collaboration, the ability to use data to break down functional and organizational boundaries, the art of using technology to discover new possibilities to enhance customer value and, in the process, completely reimagine the store of the future…
Are you ready to enhance your company’s communication and capture the attention of your consumers through our offline recommendation engine?
Contact our sales team and request a completely free demo.