Chris Riegel, CEO, Stratacache, talked about the “Store of the Now.”
“With more competition than ever, retailers and brands need impactful in-store digital solutions, personalized customer experiences, seamless mobile integration, robust analytics and measurable ROI. It’s called the Store of the Now,” Riegel began.
The Store of the Now focuses on building a way to listen to the customer, not just what they say but also their actions, answering not only the question of what do they purchase but why do they purchase.
“The next wave we see is the internet of me. Building intelligence in devices to uniquely cater toward a particular consumer’s desires or ask. The ability to uniquely identify and target that consumer, whether that’s a one on one or a demographic use case,” Riegel said. For instance, in end caps, attaching a tablet with five cameras can grab information on who is stopping at that end cap and what products they are reaching for.
But it’s important to remember that this is a large scale project. “Within our view, the Store of the Now, retailers are challenging the way they want to build the store of the future. ‘I am going to build a prototype store,’ many say and we say ‘great, now you have one ‘Store of the Now’, but you have 19,000 other stores. The battle of retail is won in the average of the store.’”
