How technology is being used in visual merchandising for a range of benefits from getting insights into the most popular products, their ideal placement inside the store to assessing the nature of footfall, dwell time and purchase history
By Sunil Munshi
The retail sector has seen a significant upheaval in the changing business landscape, defined by the advancement of digitalization, e-commerce, and evolving consumer expectations. Businesses must continually unearth new ideas to improve the in-store shopping experience to increase sales and establish consumer loyalty in the ever-changing retail landscape. Hence, incorporating technology can be a highly effective method for attaining the best outcomes in visual merchandising. Examining the most recent technological advancements influencing retail is crucial as we enter visual commerce in the digital age.
The AI Revolution in Visual Merchandising
Artificial Intelligence (AI) has revolutionized retail business operations, and visual merchandising is no different. In the fast-changing retail world of today, retailers now have the access to use AI-powered data to gain a competitive edge.
Retailers may obtain deep insights into customer behavior, preferences, and trends by leveraging the power of modern data analytics. With this information, businesses may improve their product displays and shop layouts to increase sales and conversions. Indeed, the capacity to use AI-powered analytics has become a vital aspect of modern retail operations’ success.
A strategic way to improve customer experience and increase sales is to use customer data and offer hyper-personalized shopping experiences based on individual preferences and purchase history. AI can provide valuable insights into the most popular products and their ideal placement inside the store by assessing the nature of footfall, dwell time, and purchase history.
Elevating in-store experience via AR and VR
In the current scenario, visual merchandisers are creating immersive, three-dimensional product experiences that let customers view and engage with their products using various technologies such as AR and VR. For instance, a clothing store may offer virtual fitting rooms employing AR technology to allow clients to try on clothing. Similarly, virtual stores that enable users to purchase from any location can be created utilizing virtual reality technology.
Consumer interest in the Metaverse is increasing as the majority of the buyers prefer to purchase goods and services using advanced technologies. On the other hand, retailers are implementing these technologies to up their game in the crowded space.
In the current scenario, visual merchandisers are creating immersive, three-dimensional product experiences that let customers view and engage with their products using various technologies.
Revolutionizing visual merchandising with IoT
The Internet of Things (IoT) is revolutionizing visual merchandising by enabling retailers to track inventory, monitor customer behavior, and provide personalized experiences. Retailers can restock products by using IoT sensors to track inventory levels before they run out.
Additionally, IoT can monitor customer behavior, such as time spent in certain areas or products viewed, allowing for personalized experiences and targeted promotions.
Furthermore, store traffic analytics using IoT and computer vision enable visual merchandisers to optimize store layouts based on customer behavior data. By measuring dwell times, detecting emotions from CCTV video data, and utilizing edge computing and AI/machine learning, merchandisers can identify which aisles, fixtures, and products drive engagement. They can also use these tools to conduct A/B tests and determine which visual merchandising strategies are most effective in driving product interactions and engagement.
Planogram with a tech facelift
Planograms are an important part of good visual merchandising because they allow merchants to maximize the impact of their product presentations and overall shop layouts. Planograms are becoming more complicated as the digital era progresses including cutting-edge data analytics and visualization tools to optimize product placement and improve overall display efficacy.
In today’s competitive market, it is critical to build a product display that caters to the target audience’s individual wants and interests. This can be accomplished by employing a planogram developed from data on client demographics, purchase behaviors, and area trends. Businesses can improve their customer experience and raise their sales revenue by doing so
Ensuring brand recall via digital signage
It is believed that brand storytelling is more memorable than a repository of facts and figures. Thus, the retailers can provide information to customers and position the brand for simple top-of-mind recall by displaying compelling videos on digital signage that communicate the brand identity and story to interested customers.
Digital signage is changing the way shops interact with their customers. Retailers are using digital signage to display interactive product demos, marketing, and promotions. Retailers may use digital signage to produce dynamic and compelling information that grabs customers’ attention and keeps them engaged in the shopping experience.
Modern retail environments require businesses to embrace cutting-edge technologies to enhance user experiences. Technology will always be the center point for visual merchandising techniques and retail CEOs must adapt it in their sales strategies to gain prominence in the market.
The writer is CRO, Denave, which is an endto- end sales enablement provider for B2B enterprises. The company accelerates B2B sales with tech-enabled processes, people and solutions to prioritize growth.
This story is taken from ‘Visual Merchandising in the New Technology Era’ published in the May edition of Progressive Grocer. To read more, subscribe to the magazine
