Department Stores Market: Introduction to Omni-channel Sales and Computer Vision to Reshape Landscape

Posted on 2018-10-31 by Mark Hub in Retail // 0 Comments

Albany, US, 2018-Oct-31 — /EPR Network/ —

Evolving consumer expectations and demands have taken a toll on department stores market. Emergence of online retail has posed significant threat to department stores, thereby diminishing their consumer appeal. However, department stores are gradually elevating their operational capabilities with integration of technological novelties such as automation to strike new growth scope. Market Research Hub (MRH) in its stride to gauge new trends and advances in department stores market, has recently collated a new research report titled, ‘Department stores: Major trends transforming the retail landscape‘ to its fast expanding repository.

To recover their position in department stores market, leading market players are akin in investing thoroughly in various technological innovations to fill the gap in consumer attraction and retention. In succeeding paragraphs of this business intelligence report on department stores market, readers are presented with top trends that can potentially enable survival of department stores market.

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Adoption of Omni-Channel Sales, an Extension of Brick and Mortar Existence to Expand Scope

Adoption of omni-channel sales has emerged as a dominant trend in department stores market. Several market participants are extending their services from mere brick and mortar existence to full-fledged virtual reach, thus expanding their scope. Significant advances in mobile browsing, social media marketing, and online store fronts are expected to turn the table around for struggling department stores.

Candy Retailer, Lolli and Pops Uses Computer Vision and AI to Ensure Customer Retention

Retail technology advancements such as AI, virtual reality and IoT are some of the major survival strategies embraced by department stores to restore their lost sheen in retail industry. Superlative consumer experience remains a priority amongst leading market participants in department stores market. In this light, popular candy retailer Lolli and Pops has increasingly adopted AI and computer vision to enhance consumer base. With its computer vision enabled technology the retail store identifies loyal consumers’ footfall in real time during store visits thus gaining insights on frequency of visits as well as repeat customers. Aided by AI technology the store analyses consumer preferences and thus sends customized product recommendations along with attractive discount offers to repeat customers, thus ensuring customer retention.

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Further in the course of the report readers are presented with holistic description of major segments prevalent in department stores market. Based on through research postulates this section of the report underlines the segment associated with comprehensive market growth. Additionally, the report also allows readers to attain significant insights on various marketing tactics and tools implemented by core market players across regions and their eventual implications on holistic market growth as well as on consumer response.

Competitive Landscape: Department Stores Market

Thorough research postulates articulated in the report enable readers to attain actionable market intelligence to drive lucrative business deals. This section of the report enlightens readers to gauge the effectiveness of various marketing tactics and tools implemented by leading market players to attain favorable consumer response in terms of their buying behavior. New and existing market players can engage in thorough research activities to infer vital deductions, core for lucrative return on investment. Based on these attained perspectives market players can facilitate lucrative business decisions that ensure surged profits as well as sustained revenue pools in department stores market.

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About Market Research Hub

Market Research Hub (MRH) is a next-generation reseller of research reports of different sector like Retail market research and analysis. MRH’s expansive collection of industry reports has been carefully curated to help key personnel and decision makers across industry verticals to clearly visualize their operating environment and take strategic steps.

MRH functions as an integrated platform for the following products and services: Objective and sound market forecasts, qualitative and quantitative analysis, incisive insight into defining industry trends, and market share estimates. Our reputation lies in delivering value and world-class capabilities to our clients.

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