{CTO Special} (The Good Glamm Group) Optimizing Product Recommendations

In the current digital era, customers want everything in the blink of an eye, whether it’s product selection, quick delivery, or hassle-free payments, said Ganatra. Technology is the reason we’re able to achieve all this and more. Not to mention the way technology has changed how we access and analyze data. Every online retail business is dependent on data insights today.

Here are the three technologies that Ganatra believes in:

Augmented Reality: It is and will remain a game changer for the retail experience. From trying out products while sitting at home to customizing them virtually, the possibilities are endless.

Unmanned Stores: This can be the next big thing. Many companies and countries are already experimenting with it, such as Amazon Go stores in the US.

Entirely Digital Check-Out Experience: This is similar to unmanned stores, but not necessarily. The idea is to quickly pay for the selected products without waiting in a queue, at offline stores.

Tech-Enabled Experiences

Some of the tech-enabled experiences that The Good Glamm Group has included are:

• Customer-specific product recommendations (displayed to beauty associates in stores)
• Recommending appropriate products after analyzing skin type with a tablet
• The option to redeem points across all stores
• Stock availability checks across stores and machine learning-based stock forecasting, used for the replenishment of products

“Apart from more focus on technology to drive unmanned stores and self-checkouts, live selling of products via virtual appointments can be a big boost to the retail sector in India. It would allow store executives to help customers buy products from the actual store over a virtual video call,” Ganatra stated.

“Another area where we as retailers can experiment is by introducing NFTs with the retail experience; it could be too soon for this idea as of now, but the NFTs can be used as a ticket for an exclusive retail experience as well,” he added.