Empower Your Business With The Magic Of Machine Learning!
The digital revolution with Artificial Intelligence , the mobiplus shopping recommendation platform , and the end of the middle class leave only two avenues of choice for retail businesses.
In the last 50 years or so, from 1950 onwards until about 1980, there was tremendous growth in the global economy.
We are post World War II on a devastated planet, with households, and cities that had to be rebuilt from scratch.
The consumer had basic needs, to furnish his home, to buy clothes for himself , to educate his children and provide a better future for them.
That was the middle class.
The growth of the middle class was quickly understood by companies like wallmart , target, sears.
They understood that the middle class wanted middle class products, mediocre products to meet their needs.
And the key criterion in this choice is price.
The consumer was choosing based on price and the plethora of premium products available inside these superstores.
In the Greek market we see Minion , Lampropoulos and others.
In 1980 the middle class started dying.
While the income of the average household had tripled since 1960, expenses now began to exceed income.
The cost of living had increased dramatically.
The digital revolution , with the ecommerce era, Artificial Intelligence, Smartphone technology, and block chain is changing the landscape even more.
Thus a new market is forming in front of us where business leaders need to understand it and plan their way forward.
Middle-class consumers and others have learned over the last 30 years the difference between cheap and quality.
Of service and DIY.
The internet gives them the ability to have billions of products and services in front of them.
There are 24 million eshops in the world, Amazon alone has 300 million products in its eshop and the average consumer sees 8000 ads a day.
Consumers are searching for products via Smartphones.
So you quickly understand the abundance of products on the web and the great difficulty you have as a business to stand out and stay in the list of buyer’s choices.
The two paths that are forming in retail which are.
A simple example is the cinema.You pay to go to the cinema, to be with a huge screen with impressive speakers and other people , that’s fidelity.
Convenience is home with Netflix and you can press the button whenever you want!
They are two dramatically different paths which must be recognizably different for the business.
It has to be clear which road you are on and we see today in the international and Greek market that many businesses are somewhere in the middle.
That’s how you die! The Belly in the diagram above.
We see the emergence of businesses with a convenience strategy, where consumers can easily and quickly buy the products they want.
The features of convenience are:
This can be done through the online or physical store of the company.
The consumer in this case will have to find what he wants quickly.
Technology plays an important role here , since the buyer’s need is to make the purchase quickly.
Artificial Intelligence and recommendation engineering plays an important role here.
To be able to predict what the buyer wants to buy next week , to alert him about the relevant product, to bring him to the physical or online store to make the purchase.
When he enters your eshop to see a page specially designed for him with the products he wants to buy and not to search!
Recommend other products that the mobiplus shopping recommendation platform technology can predict that he needs and make him happy because you saved him time and money.
When he enters the store he can quickly see on the intelligence shopping assistant digital display and his smartphone the products he wants to buy where they are , what offers and new arrivals are relevant for him , discover products he wanted to buy but haven’t thought about it and proceed with the purchase.
To see the offers you have available today and he also wants to buy ,a new product he wanted to buy for a long time and couldn’t find it.
Here businesses must have something special.
Particular products or services or a particular method of sale.
See a fidelity bike shop below:
The features of fidelity are:
Technology also plays an important role here.
Artificial Intelligence with the mobiplus shopping recommendation platform can predict and anticipate the needs of this customer and alert him to specialized products that he wants to meet his needs.
When he walks into the store, online or in store , the service must be concierge level!
Expert, knowledgeable and personalized!
The placement of the products should be impressive.
The products should be impressive and unique!
The eshop must be 100% personalized with the products he wants to buy!
Recommend products that he wants by giving him a personal assistant service!
In the store Intelligent shopping assistants will offer him personalized experiences and sales personnel will asist him further with more personalized and consulting information.
Sales personnel or product ambassadors will have his personal shopping needs at a retail app, his past purchases , his size , information about his house and the furniture that already has and will be able to serve him in a personalized way.
These products will come from the mobiplus shopping recommendation platform and will be especially for him!
mobiplus shopping recommendation platform app can provide all this information to sales people too.
This has to be an experience to remember!
mobiplus member Elevate Greece
Confirmed Innovation.
Test out the Recommendation Engine for up to 20.000 euros in revenue from recommendations. No credit card required. Just enter your company information and we’ll contact you with all the details.