As Gen Z – the first generation to grow up with personal phones and computers – enters the workplace and becomes the newest generation with purchasing power, they have an unprecedented amount of information at their fingertips, making them extremely savvy and discerning consumers. Long gone are the days when customers are willing to spend hours shopping in-store or waiting days for their online purchases without minute-by-minute updates.
As retailers, it’s imperative to keep up with Gen Z’s expectations, and embracing technology is the best way to do so.
Artificial Intelligence (AI) is here to stay
It seems like ChatGPT became a household name overnight, and we’ve seen no end of articles over the last few months about the opportunities and the dangers of Artificial Intelligence (AI). Regardless of your personal views about ChatGPT, there’s no denying that AI and Machine Learning (ML) is here to stay, and offers an opportunity for retailers to streamline their operations and supply chain inefficiencies.
This isn’t some goal in the near future. Today, we use AI and ML to analyze customer data and gain insights into customer behavior, preferences, and buying patterns. This data can then be used to remove the friction from the customer experience, recommend products, and make more informed decisions about inventory management and pricing – all done without human error and in a fraction of the time.
Bridging the Gap Between the Digital and Physical Worlds
While online shopping is hardly new, there’s no denying that there is a major downside to not being able to try a product before purchasing it. Retailers need to capitalize on this opportunity to use technology to merge the online and offline shopping experience.
Augmented Reality (AR) and Virtual Reality (VR) in particular have the potential to create immersive shopping experiences that allow customers to try on clothes, visualize products in their homes, and even take virtual tours of stores. These technologies can also be used to enhance product demonstrations, training, and customer support. By bridging the gap between the digital and physical worlds, retailers will create a seamless and personalized experience for their Gen Z customers, which will keep them coming back for more.
Voice Technology
“Alexa, I need a new patio set for under $500!”
With the rise of smart speakers and virtual assistants like Amazon Alexa and Google Assistant, customers are increasingly using voice commands to search for products, make purchases, and interact with retailers. One survey found that 47% of online shoppers used a virtual assistant to purchase with a voice command, but the opportunity doesn’t stop there: retailers can capitalize on voice technology to offer personalized recommendations, answer customer questions, and even take orders.
The retail landscape is constantly evolving, and retailers must keep up with the latest technology trends to meet changing customer expectations. By adopting future-proof technologies in their commerce, data and supply chain operations, retailers can create a personalized, immersive and frictionless shopping experience that keeps pace with the next generation’s accelerating demands and expectations.
As Vice President, Marketing, Sarah Kirk-Douglas is responsible for leading demand generation, brand, communications and marketing operations at Pivotree. She brings over 18 years of experience as an award-winning global marketer with a focus on technology. Prior to Pivotree, she was the Vice President of Global Marketing and Communications for SecureKey where she played a critical role in bringing Verified. Me the blockchain-based digital identity service, to market. Sarah has held senior global marketing roles at SecureKey, Avaya and Certes Networks.
