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Retail Business Review | Saturday, April 30, 2022
The adoption of wearables opens up new and innovative ways for retailers to improve their marketing efforts among key consumer groups.
FREMONT, CA: Many companies have jumped on the wearable technology bandwagon, ranging from watches to glasses, throughout the last few years. When tracking customer data was already accessible through smartphones, the rise of wearables has made it handier. In Street Fight’s analysis, businesses comprising retail can exceedingly help from the opportunity to assemble more customer data than ever with wearables.
Here are three methods in which wearables impact retail marketing.
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• Location-Based Targeting
Data is not the single opportunity that wearable technology provides retailers. It is an answer for location-specific Targeting as well. Methods such as geo-fencing and geo-targeting are no longer new concepts, but they can be applied more effectively with wearables. If a customer walks by a store frequently, the store could start sending ads for specific products. While this location-based marketing can be done with mobile devices, wearables provide a more intimate experience. If designed with the right creative content, the aimed ads can become recommendations other than product pitches.
• Cross-Device Targeting
Cross-device Aiming is a crucial tool for marketers and a great way to help customers in their purchase journey. Wearables form a platform to glean valuable data from determining customer intent, and based on this data; brands can tailor targeted ads. By applying data from their browsing history and the location beacons from wearables, marketers can send coupons and offers for a specific product as customers walk by the store.
• Improved Loyalty Programs
Wearables also stand to make the current loyalty programs of retailers more potent. Using wearable data, brands can better grasp what sorts of customers visit their stores and tailor the right loyalty program for each customer. Improved loyalty programs will provoke buying impulses and will solidify buying patterns.
The increasing popularity of wearable technology correlates to a rising opportunity for retail marketers and customers. With the massive amount of data that customers could share for a more individualized experience, retailers can use the platform to help build a stronger relationship with their customers.
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