How Legacy Brands And Retailers Can Keep Up With Our Tech-Driven World
The U.S. apparel industry is currently valued at $12 billion, and with the high number of dollars pouring into the retail economy, brands are looking to technology to foster deeper connections with consumers and elevate the overall shopping experience. Whether it’s in-store or online, technology is becoming a lever to bolster brand loyalty and customer satisfaction. Resources such as shopbots and “virtual concierge” services are helping retailers turn new customers into repeat shoppers. Previously an underutilized resource in the fashion industry, retail tech is now offering personalized shopping experiences that suit the needs of a diversified pool of consumers. Case in point, Macy’s and IBM announced a pilot program that aims to expedite and streamline the in-store shopping experience for customers. Watson, IBM’s AI technology, can answer questions about inventory, store navigation, FAQs and specific questions regarding store locations. The “Macy’s On Call” system also evolves as it learns more about its customers. Read more at Tech Crunch.
