Retailers discovering tech integrations to enhance customer experience during the holiday shopping season
The upcoming holiday season is here and it presents a golden opportunity for brands to cultivate connections with their customers and exceed their expectations
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Mumbai, Dec 01: The upcoming holiday season is here and it presents a golden opportunity for brands to cultivate connections with their customers and exceed their expectations. In a fast-paced digitally enabled environment, retailers are brimming with diverse consumer choices - navigating the challenges and new realities of the retail landscape. Subsequently, brands are dealing with such complexities by discovering tech trends to redefine customer experiences and stay ahead of the competition through effective communication.
India is recognised as the fifth largest retail destination globally and is often applauded for being digitally ahead of the curve. The industry has gradually understood the importance of nurturing long-term relationships with customers. Henceforth, retailers are substantially investing in high-technology infrastructure to make the most of the ongoing festivities and holiday season.
“Amidst the busy holiday shopping season, retailers are facing a significant increase in customer support demands, Our customers have experienced an in-flow of up to 6 times more support tickets this Diwali. With sales rising, customer support teams are encountering challenges. In the tech-driven landscape of 2023 dominated by ChatGPT and AI, smart brands are effectively addressing this surge. They're using self-service chatbots, capable of handling 60% of tickets, to streamline customer interactions. Strategic integrations with ecommerce platforms, inventory management systems, logistics, and payment gateways play a crucial role, helping retailers save valuable time per ticket.” says Sheshgiri Kamath, CEO and CO-Founder of Kapture CX.
Tech adoption has blurred the line between online and traditional shopping experiences, consequently, giving rise to an omnichannel retail approach. As tech-savvy consumers mainly millennials and GenZs expect seamless shopping experiences, retail brands embed unified technologies to converge multiple touchpoints - websites, social media platforms, mobile apps, etc.
For a smoother transition, retailers are leveraging integrated tech systems to unify customer data, inventory management and order fulfilment. For instance, ‘Buying online and Picking up in-store’ has enabled customers with hassle-free returns, catering to customers’ convenience and flexibility.
Conversational AI has been witnessing tremendous growth, revolutionizing the retail industry. AI-enabled chatbots are augmenting customer interactions through instant support across channels. Amid the high-sale festive season, retailers are embracing these advancements to handle increased inquiries, assisting customers in finding information about products, promotions and other services. Simultaneously, it enhanced convenience and streamlined processes for increased customer satisfaction.
Apart from consumer-facing aspects, the retail industry’s digital transformation extends beyond traditional supply chain management. By embracing tech infrastructure, retailers are leveraging the automation and optimization of the supply chain to improve cost efficiencies and enhance accuracy based on real-time insights.
Through automated systems, retailers are maintaining optimal stock levels during the festive and holiday season offers. During high transaction times, automated inventory management enables retailers to prevent overstock and stockouts, further reducing unnecessary costs.
“With a notable 70% reduction in average handling time, these integrations not only boost efficiency but also free up agents from dealing with multiple platforms, ensuring a seamless and quick resolution process,” he added.
The retail industry has undergone a remarkable transformation with the prowess of data analytics, omnichannel approach, automated order processing and fulfilment. Embracing tech infrastructure, retailers have discovered the idea of adapting to present market dynamics and bringing a paradigm shift in the traditional shopping experience.
