Prediction from Powa Technologies’ Dan Wagner
The Xmas  retail sales figures really highlight how fragile the retail industry is at the moment. We’ve seen a huge shift in consumer buying patterns as the retailers trading statements showed this years distinct ‘winners’ and ‘losers’ with a clear shift from the physical stores to the online forum. But Dan Wagner, CEO with Powa Technologies, is predicting a fight back from the traditional High Street retailers.
The traditional stores really need to up their game to compete in the new shopping paradigm that we are entering.
“Customer engagement is the key to survival in 2014, at present customers who walk through the doors of high street shops are unknown to them,” says Wagner.
He continues, “This needs to change fast, customer engagement holds the critical path to growth in fierce market conditions.”
“It is vital for retailers to know the buying behaviour of the person who has walked through the door: are they a loyal customer? What are they interested in?”
Online retailers have all this information and utilise it to engage their customers very effectively as the sales figures have born out.
The latest technology trends such as Bluetooth LE (low-energy) beacons and geo-location are drastically changing the retail landscape.
They are transforming High Street stores into data-rich environments.
“In this way shopping becomes a real-time, interactive and personalised experience,” Wagner concludes.