Startups are moving into retail in a big way. In recent months, Nordstrom, Walmart and Williams-Sonoma are among the established names that have acquired tech-focused startups to boost their offline and online capabilities.
We love that brick and mortar retail stores are looking to technology to bring visibility into customer behavior. With websites, the best marketers study user behavior on each site, from conversion rates, to click-thru rates, to time spent on each page. They use this data to more effectively meet consumer and market demand, which in turn makes websites and their companies provide better services and products, presented in a more efficient manner. Consumers benefit from this study of behavior. Just as the proper use of this data has over time led to better websites and more insightful approaches to how we interact online with brands, it’s our hope that brick and mortar stores will follow suit. It’s exciting to consider the innovations that will result from the investment in these new technologies.