Marketers use technology to tap into customer preferences
Implications - The root of successful selling may lie in a brand’s ability to incorporate technology. Targeted selling has reached a new level: gadgets can track customer satisfaction and analyze preferences, thereby making it easier for marketers to understand their customers. On the consumer end, innovations that incorporate social networking, enhance user experience and elevate convenience provide new ways to lure buyers.
Trend Themes
1. Smart Selling - Technology helps marketers track customer preferences and provide new ways to lure buyers.
2. Scan-responsive Advertising - Billboards and vending machines use facial recognition technology to target advertising to specific demographics.
3. Innovative Payment Services - Prepaid shopping for teenagers and smartphone payment services provide new ways to shop and pay for goods and services.
Industry Implications
1. Retail - Smart hangers, real-time shopping logs, and social media shopping provide innovative ways to improve customer experience and enhance convenience.
2. Advertising - Color-sensitive billboards and eye-tracking services use advanced technology to personalize ads and optimize advertising placement.
3. Payment Solutions - Cardless swipe technology and prepaid shopping services offer new and convenient ways to pay for goods and services.
