Photospire is delighted to be one of 12 companies awarded a place in the final of Retail Week Live Innovation Campus.
The Innovation Campus is dedicated to bringing together the brightest minds in retail and the start-up community to generate new and innovative ideas, which will shape the retail experience of the future. Put together in association with Eccomplished and Haatch, the Retail Week Innovation Campus is the perfect destination for innovative retailers and start-ups wanting to make their mark to exchange ideas and meet new contacts.
Photospire will be showcasing their product to a senior retail audience at Retail Week Live on the 11th and 12th March at the Hilton London Metropole.
Best of luck to all finalists, we look forward to seeing you there.
Click here for more information on this great event.
1) Social networks as shopping platforms
Brands have been using social media to market their products and communicate with their customers for years, however 2015 will be the year that they add ‘selling’ to the list. Facebook and Twitter now have ‘buy’ buttons and Instagram teamed up with Curalate to create their Like2Buy platform. This selling route will continue to grow and become more sophisticated and widespread.
2) Focus on customer loyalty
Retailers need to offer more than loyalty points to keep their customers coming back by delivering more imaginative rewards and incentives. Loyalty programmes of the future will reward shoppers for their engagement and actions rather than just purchases. These rewards will be customised to each individual in the form of offers, services and experiences and in doing so the customer will feel more cherished and will be more inclined to engage and remain loyal.
3) Growth of in-store technology
We are already seeing retailers adopt in-store technology such as beacons, wearables, POS systems and virtual platforms and this will continue to grow in 2015. Cloud based point-of-sale systems have proven to be more efficient than till points in all respects and more retailers will make the switch. Although there has been a lot of talk about Beacons retailers are still finding their feet as to what this technology can do for them. The early adopters of platforms such as virtual fitting rooms and interactive widow displays have lead the way in improving the in-store experience.
4) Continued mobile growth
Mobile devices will account for 30% of global retail e-commerce spending by 2018, according to Adobe. Retailers who know the importance of smartphones and tablets in the shopping journey are starting to introduce mobile loyalty programs where customers can track and redeem their rewards straight from their phones. The number of consumers turning to mobile payments will also increase due to solutions from the likes of Google, Softcard and Apple. Retailers will have to respond to this trend and adopt the technology to offer their customers.
5) Retailers with omnichannel strategies will prosper
Retailers that understand the importance of offering multiple shopping channels to their customers will continue to grow and prosper. Many studies have been carried out showing that consumers are now much more informed on products before they purchase. They expect to be able to research the product online, view and try in-store, talk to sales people who are knowledgeable on the product and then buy from a host of different channels for their convenience. Retailers who can keep up with this and provide a seamless service will continue to reap the benefits.