5 Retail Updates You Need to Know Today

Knock knock, the future is here! It’s that time of week again- the time we give you the lowdown on all that’s happening in the tech-savvy world, including the massive shift that is about to take place for anyone with a desktop, mobile and internet connection. Will you be affected?

On the retail side of things, we have officially welcomed on board several new stores to Booodl:

A.P.C (Sydney, Melbourne), The Academy Brand (Bondi, Chatswood, Miranda, Newtown), ICONA Jewellery & Accessories (Double Bay), Brays Books (Newtown) and 567 King (Newtown).

 1) BOTAGGEDON

Relax, it’s not the end of the world, but BIG changes are happening: it’s the year of conversational commerce. We’re entering a botaggedon, where the likes of Howdy, Assi.st and Scout are rising to prominence. Just look atFacebook; it’s predicted that they’re releasing their own ‘Messenger Bot Store’ as an entire platform, which would be presented to their 800 million monthly active Facebook Messenger users. The CEO of Fin, Sam Lessin, says the rise of chat-based user interfaces will mark “a fundamental shift that is going to change the types of applications that get developed and the style of service development.” At this point, it’s uncertain what this will mean for retailers. However just like the web in 1995 and mobile apps in 2008, bots are the next big thing and you should most certainly keep your eyes peeled.

http://goo.gl/90CPP5

2) Bata Shoes Finds the Right Fit for Success

Once upon a time, geography was an obstacle in the path to seamless communication, that was until mobile came along. Take the Bata Shoe Company for example: with 33 production facilities in 28 countries, the introduction of dynamic messaging, video conferencing and voice options with Tata Communications has reduced costs as “much as 40% in some operations, saving… $300,000 in the first year”. More importantly, these multi-platform tools across have allowed for a more seamless collaboration, whilst completely reinventing the way the company communicates and functions. In a technology-driven world, retailers are at a crucial point where they must adapt in order to meet consumers’ needs and succeed, and that is why companies like Booodl exist.

http://goo.gl/N9nggW

 3) The Dangers of Misunderstanding Omnichannel

Like the golden snitch in Harry Potter, ‘Omnichannel’ holds the key to success in the retail world, but it sure is difficult to catch and master. According to data analytics company, Revmetrix, this is proving true as retailers are misunderstanding the term, believing that their sole duty is only to serve customers across all platforms: in-store, online and via mobiles. It’s actually much more than that. Brett Wickard, founder-president of Fieldstack, told Retail Dive that by separating these platforms, the information gathered about customers are merely held in silos. And so true omnichannel is when the teams, inventories and analytics behind the shopping platforms should be integrated to guarantee a seamless and personalised shopping experience altogether. Understood? Great!

http://goo.gl/YIiwT8

 4) Beacons: From Hype to Real Market Value

In an article from Forbes, 2016 is predicted to be the “year when beacons go from hype to delivering real marketing value”. At least that’s what WPP media agency, Maxus, says. This innovative technology has worked wonders across the world, especially in retail. The article covers implementation stories in companies like Apple, Mediacorp and even Nestle contributing to the retail/online ecosystem. If you haven’t hopped on board the bandwagon yet will 2016 be your year?

http://goo.gl/3uinfN

 5) Amazon’s Alexa Makes IA Mainstream

In the midst of conversational commerce and bot-mania, it’s no surprise that intelligent assistants (IA) have now reached their tipping point into the mainstream. In this insightful article, VentureBeat provides insight into how comfortable we have become controlling our digital lives using words for devices like Siri, Google Now and their close cousin Alexa running on Echo. Whilst this technology is exciting and ground-breaking, retailers and businesses alike should be weary of how this affects their consumers’ behaviour and sales. We recommend taking a look at Booodl CEO & Co-Founder George Freney’s latest video about Amazon and the threat it imposes on the retail ecosystem.

http://goo.gl/6Apn2Q

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