What are the benefits for retailers adopting wearable technology in order to build better in-store loyalty and experience?August 23, 2018
There are some global retailers who are trialling wearable technology in order to provide their customers with an improved in-store loyalty scheme.
By using wearable technology, retailers give customers' the opportunity to cash in on points earned through previously purchasing items in-store.
Wearable technology could bridge the gap between customer repeat purchasing and brand loyalty, therefore improving the customer relationship. Wearable technology can also provide the much-needed encouragement for customers to come into the store and claim their loyalty points or rewards.
There are some retailers who use wearable technology to track what a customer purchases in their stores. By doing this successfully, retailers are able to gain a better understanding of what their customers are purchasing and what their interests are. This, therefore, gives retailers the ability to create personalised rewards, and bonus points based on historical buyer behaviour.
Even something as simple as allowing people to check their wearable device away from the store can go a long way towards making the customer’s life easier. Wearable technology can also give customers' the opportunity to earn points by carrying out regular activity for example a sports retailer could promote "walk 8,000 steps a day for the next week to earn 5 loyalty points." to its customers'.
A survey was conducted last year and stated that 45% of UK consumers wanted a loyalty scheme based on the use of their smart technology. This indicated the importance of wearable technology and why it should be used in the future to build brand loyalty.