Sagence works with industry-leading retailers to create data-driven retail strategies that emphasize seamless, cross-channel consumer journeys. Through focusing on the consumer first, Sagence is enabling retailers to concentrate on key initiatives and opportunities designed to build market share and personalized consumer experiences.
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The Consumer Shopping Journey:
- Social media platforms will continue to dominate both the time spent on devices and the shopping inspiration stage of the journey.
- Social media players will break down the current commerce barriers of trustworthiness and account setup/ease and buy buttons (in all their forms) will come closer and closer to the inspiration stage, however, integration with a true shopping experience will still prove difficult.
- Retailers will increasingly embrace curation to compete in the inspiration stage.
- Showrooming and pop-ups will take hold, existing brick and mortar retail capacity will transform into distribution capacity, and online players will continue to rollout physical spaces.
- In-store and near-store consumer engagement through IoT, beacons, apps, etc. will become table stakes as consumer expectations continue to rise.
- Metadata management and AI capabilities will become competitive advantages for retailers looking to attract consumers in the shopping stage (e.g., browse, research, and select).
- Traditional retailers will stop reporting e-commerce revenue growth as digital engagement across the journey increases.
- Check-in progress will help eliminate in-store checkout friction and will help alleviate the numerous and painful adoptions of new payment formats and technologies.
- Fast in-store pickups and home deliveries will continue to make strides, requiring supply chain transformations and fueling further reductions in overall physical retail space.
- IoT will continue to help improve inventory tracking and merchandising, not only within the supply chain but within individual stores (e.g., endcap/promotion analysis).
- Greater consumer engagement and machine learning capabilities will enable more effective localization practices.
- Retailers and brands that promote and leverage post-purchase, user-generated content (UGC) will maintain a competitive advantage.
- As more and more products incorporate IoT platforms, retailers and brands will leverage the “conversations” to build competitive advantages (e.g., marketing campaigns and improvements in products and services).