The terms “Conversational Commerce” and “retail networking” are somewhat oxymorons for most people. However, in the not so distant past (not too long ago) this was a very real possibility. If you recall the “Clone Mind” scene in Star Trek. Or the many TV shows that had characters that would think, discuss and compare things with others (such as the Blue Man Group on CBS). This is a form of commerce, where two (or more) minds interact to produce a solution, a product or simply information that will prevail in the marketplace.
It was not so long ago that the Internet was the primary means of commerce for virtually all aspects of human interaction. Today, however, due to the increasing complexity of the Internet, most people associate the term “commerce” with e-commerce or web based shopping. However, the future of commerce is in the “cloud” or the Web. There is no doubt that this technology has the ability to revolutionize the way business is done by literally creating a new economy.
So, what does all this have to do with the future of retail? Retail is a part of our overall economy and no one can predict the future. However, there is one fact that is nearly guaranteed. As retail goes digital, the profits will drop. For every retailer that makes the switch to Web 2.0 technology there will be at least five who resist. This is not hyperbole; it is reality.
No matter what retailers decide to do when it comes to e-commerce, the future will require retailers to communicate in a language understood by most of the world. Just because a retailer chooses to have an online presence does not mean that they will always win. In fact, most people lose money online before making any profit in retail.
The fact is that most people will never make any money doing business on the Internet because they will simply not get it right. Just like in the real world, many retailers have failed because they believed that the online marketplace would be a magic place that would deliver success automatically. That’s just not true. Online success is very individual. It is dependent upon individual effort. The conversational commerce – future of retail industry holds the promise of allowing retailers to improve their online practices so that they too can become successful.
If you are a retailer who is considering this new direction for your company, the first thing that you need to do is create a plan for what you want to accomplish. A plan will help you focus on the technologies that you will need in order to accomplish your goals. Next, you will need to develop relationships with those companies and other vendors that will help you make your transition to conversational commerce happen. Finally, you will need to learn the skills necessary to implement the conversations with your customers. The conversations must be both informative and fun.
While this may sound very complex, it really doesn’t have to be. The first step to making conversational technology work for your retail operation is to learn how to use it. The second step is to find companies or individuals who will be willing to host or moderate the conversations that you will be having. Last, it is important that you learn the skills necessary to hold these conversations. Those skills are very important.
One of the main reasons that retailers are seeking to find the best providers for these services is because the conversational commerce – future of retail industry experts have the experience that will set them apart from others. This experience allows these retailers to ask specific questions about the different technologies that are available to them. For example, if you are in the process of remodeling your store, you should ask the contractors if they have brochures or fliers that highlight all the current and upcoming technologies that they have available. If you cannot find any brochures, then you can ask if they have a list of all the suppliers that can provide you with the materials that you need for your renovation project. If they cannot provide you with the list, then it is important that you work with someone who can.
Shopster by Easyrewardz is Retailer’s New Age Sales Channel- which boosts sales by direct interaction with customers with a phygital in-store experience and increase ROI. Conversational commerce is one of the most helpful customer retention strategy via its overall rich experience.
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