The Future of Shopping Is Tech for Shoppers Who Are ‘Really Into Themselves’

Investopedia01-17

Key Takeaways Retailers want their stores to be able to personalize shopping for consumers who are used to such customization online.The push comes as technology improves and more Americans are open ...

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Some brands are so intent on individualizing their sales strategy that they may bring tech teams spe","collect":0,"end_time":0,"defaultTopTitle":"investopedia.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00BZ9MQY76.HKD":"FTGF CLEARBRIDGE US AGGRESSIVE GROWTH \"A\" (HKD) ACC","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","BK4548":"巴美列捷福持仓","BK4508":"社交媒体","BK4551":"寇图资本持仓","IE00B894F039.SGD":"Legg Mason ClearBridge - US Aggressive Growth A Acc SGD-H","LU2317271919.USD":"BGF FUTURE CONSUMER \"A2\" (USD) ACC","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","IE00B19Z9Z06.USD":"Legg Mason ClearBridge - US Aggressive Growth A Acc USD","BK4077":"互动媒体与服务","BK4588":"碎股","PINS":"Pinterest, Inc.","IE00B19Z9P08.USD":"LEGG MASON CLEARBRIDGE US AGGRESSIVE GROWTH \"A\" (USD) INC"},"translate_title":"对于“真正关注自己”的购物者来说，购物的未来是科技","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PINS":1},"content_text":"Key Takeaways\nRetailers want their stores to be able to personalize shopping for consumers who are used to such customization online.The push comes as technology improves and more Americans are open to sharing their data.Younger generations, in particular, are comfortable providing personal info in exchange for a better shopping experience. \n Retailers want their next sales pitch to feel like it was meant just for you.\n\n\n Merchants are looking to make their stores and clerks capable of delivering the same kind of hyper-curated approach to sales that algorithms have made possible in e-commerce. An army of tech firms are eager to accelerate the pivot: They’re hawking body scanners that can create digital doubles of shoppers and tools for customizing everything from the content of drive-thru menus to the stuff you get coupons for in a supermarket. \n\n\n It’s happening with the help of consumers who willingly hand over their info, retail experts say. Shops are using cameras that recognize visitors and encouraging visitors to open apps in store aisles as a way to collect the needed data, according to Kelly Pedersen, retail lead for consulting firm PwC, helping store staff know what shoppers have bought before and what they’re eyeing now. \n\n\n “The possibilities are endless,” Pedersen said. “They could have things waiting for you in the changing room. They could send you personalized offers to your phone.”\n\n\n  Today's Shoppers Are More Comfortable Sharing Data  \n Evolving cultural norms have helped “personalization” become one of retail’s buzzwords. For years, some 60% of surveyed consumers have said they are willing to share biographical info in exchange for a more bespoke shopping experience, Pedersen said, but more recently that number has topped 90%.\n\n\n Experts say younger Americans are especially comfortable with companies building dossiers on them, especially as they’ve grown accustomed to online merchants using their data to customize offerings. Many even expect a customized experience that relies on data-tracking, said Rachel Hardy, director of consumer product marketing at Pinterest (PINS). \n\n\n Tech firms are pitching AI products as key to personalizing the consumer experience—whether that’s a message used in marketing or the merchandise included in promotions.\n\n\n At a retail convention this week, sales reps described how the iBody scanner can quickly collect a consumer’s body measurements, as a way to steer product design and recommendation. A sign company said it can help drive-thrus curate menus for various diners. One firm discussed how supermarkets could use its “smart” device to gauge what people put in their shopping cart, and then show them more relevant discounts and ads.\n\n\n  Phone-Native Shoppers Are 'Really Into Curation'  \n This may even affect retail-industry M&A and spending priorities. Some brands are so intent on individualizing their sales strategy that they may bring tech teams specializing in this in-house, Pedersen said. \n\n\n “Companies are looking beyond just ‘retailer acquiring retailer.’ They’re looking at ‘How do I acquire technology companies? How do I accelerate some of these things?’” he said. \n\n\n About 40% of Pinterest’s active monthly users are Generation Z, according to Hardy, and many use the platform to find shopping ideas. \n\n\n Users “have this heightened expectation of personalization because they’ve grown up on a smartphone,” Hardy said. “They’re really into curation; they’re really into themselves.”\n\nDo you have a news tip for Investopedia reporters? 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