![](https://www.retailwins.com/wp-content/uploads/2017/11/News-6.png)
Retail Pro – 3 Key Trends Driving Retail Innovation
![RetailProLogo](https://www.retailwins.com/wp-content/uploads/2017/09/RetailProLogo.png)
As we enter the final quarter of 2017, let’s look at three major factors that will continue to be hot topics for leading retailers in 2018. In a world with increasing retail competition, innovation will be the key to success.
![pexels-photo-590020](https://www.retailwins.com/wp-content/uploads/2017/11/pexels-photo-590020.jpeg)
- Data analytics will be used better to improve customer experience
Sales information is a treasure trove of information. What’s hot, what’s not and what’s coming can all be derived from a deep dive into data. For example, Amazon will rely heavily on its expertise in data-driven customer service in its grocery business. The online powerhouse fundamentally manages operations differently from traditional retail supermarkets.
Namely, Amazon has always been customer-centric: It ranks products based on popularity, it encourages interactivity with reviews and is responsive to customer input. Most supermarkets focus on the products. Likewise, many retailers in a broad variety of specialties employ sophisticated category management practices but don’t have similar customer management programs.
- Geolocation-based tools will make offers more relevant
When retailers know where customers go to most frequently, where they linger – and where they avoid, the shopping experience can be made more intuitive. When the shopping experience is stress-free, customers are more likely to return. For example, $155 billion pharmacy chain CVS uses geolocation tools to target in-store customers with the CVS app with medication reminders and health alerts. Patients are actively encouraged to manage their health through the CVS app.
![](https://www.retailwins.com/wp-content/uploads/2017/11/it_photo_209014.jpg)
![](https://www.retailwins.com/wp-content/uploads/2017/11/phone-958066_960_720.jpg)
- Omnichannel synergy will help shoppers get more comfortable with the process
Mobile sites reflect what is happening at the local brick and mortar location. Customers want a seamless experience. Many shoppers use multiple channels, sometimes starting online and picking up purchases in store, and other times starting in a brick and mortar store but finishing the transaction by paying via a mobile device. Whichever way they choose to shop, the process must be easy and familiar.
To this end, Best Buy has turned around impressively and is today considered a leader in connecting in-store and online experiences. It sees itself as a multichannel retailer, which offers its customers different opportunities to research, browse and buy products that best suit their lifestyles.