{"id":16733,"date":"2018-07-31T08:50:17","date_gmt":"2018-07-31T04:50:17","guid":{"rendered":"https:\/\/corporate.unioncoop.ae\/?p=16733"},"modified":"2022-04-13T09:55:12","modified_gmt":"2022-04-13T05:55:12","slug":"smart-stores-and-retail-landscape","status":"publish","type":"post","link":"https:\/\/corporate.unioncoop.ae\/en\/smart-stores-and-retail-landscape\/","title":{"rendered":"Smart Stores and Retail Landscape"},"content":{"rendered":"
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The Middle<\/span><\/span> East loves to shop and there\u2019s no second opinion about it. Visiting Malls, Outlets and Brand showrooms is an integral culture here, and online retail is still trying to catch on. However, it\u2019s not far behind because UAE is trying to redefine the <\/span>shopping<\/span> experience for its consumers with upcoming smart stores.<\/span>\u00a0 <\/span><\/span><\/p>\n

The cosmic change in the <\/span>retail<\/span> sector, provoked by recent trends and technology have impacted the buying behaviour of consumers, with the <\/span>younger<\/span> population living in the cities paving way for smart stores. The digital age has opened a world of opportunities for retailers, with equal challenges respective of their performance and reputation virtually. One of the best examples of this is \u2018Online Shopping\u2019, which has enabled even smallest of the operators to tap the global market and reach buyers. <\/span><\/span><\/p>\n

One of the many fascinating facts about the <\/span>Middle<\/span> East is that it has one of the fastest growing populations in the <\/span>world<\/span> and relatively the youngest. Middle Eastern population is set to reach 500 Million by the <\/span>year<\/span> 2100, with half of them being under 24 years of age. <\/span><\/span><\/p>\n

Retail Scene in the Middle East<\/em> <\/span><\/span><\/p>\n

Contrary to the popular belief, the <\/span>rise<\/span> in the popularity of online shopping has had a strong influence on physical stores as well. This sudden rise in the online shopping phenomenon has somehow motivated traditional stores to reinvent themselves and provide <\/span>customers with a<\/span> new version of shopping and entertainment. However, there are some stores who are paying the price for not being flexible and as a result, they are dealing with low footfall, price issues with online counterparts lowering the profit margins to attract more customers. <\/span>\u00a0<\/span>\u00a0<\/span><\/span><\/p>\n

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What\u2019s the future?<\/span><\/span><\/h1>\n

Smart Store Qualities to expect in future:<\/span><\/span><\/strong><\/p>\n

Personalization – A new version of customer relationship management is penetrating the smart shopping model wherein retailers are trying to make shopping personal for the consumers. With customers\u2019 consent, smart stores will be able to gain insight into a consumers shopping behaviour to offer customized suggestions on products and promotions. Using <\/span>N<\/span><\/b>ear <\/span>F<\/span><\/b>ield <\/span>C<\/span><\/b>ommunication technology, the accumulated consumer data will be saved in devices managed by store staff who in turn can address the consumer by his or her name, thereby adding a pinch of customization in the shopping experience.<\/span>\u00a0 <\/span><\/span><\/p>\n

Imagine walking into a store that already has information about your preferences and likings, addresses you by your name. They already know what you like and will be able to offer fantastic deals depending on your location and your likings. <\/span><\/span><\/p>\n

All about creating CREATIVE spaces <\/span><\/span><\/strong><\/p>\n

Retailers along with the technology have to work on combining creativity with designing their <\/span>storefronts<\/span> because the <\/span>everyday<\/span> environment has a tremendous effect on the way the <\/span>consumer<\/span> interacts with the merchandise. Establishing a creative <\/span>storefront<\/span> is not limited to aspects like lighting, music, textures and aroma that are capable of bringing people from the busy shopping mall feel to the comfort of your unique retail store experience. The key to <\/span>encouraging<\/span> better spending is to create a store layout that is both convenient and inspiring to the average shopper. <\/span><\/span><\/p>\n

After layout, cometh the creation of an <\/span>appropriate<\/span> atmosphere that will further support the products, aligning with the desires of the consumers.<\/span>\u00a0\u00a0\u00a0 <\/span><\/span><\/p>\n

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The future lies in\u2026<\/span><\/span><\/h1>\n

\u00a0<\/span>Smart Stores with Interactive Mirrors and Smart Payment gateways <\/span><\/strong><\/p>\n