One way to rise out of the competition is by integrating new technologies that can change the way people shop. Here, we will take a peek into the future that is as much about the here and now as it is about 2020. Pretty soon, stores will look more like websites and websites more like stores. So in case, you’re new to technologies, let’s look at how commerce will change.
Finding the Way for New Technology in Retail
The demand for shopping in the retail industry has increased over the years, thus it is important to meet those high demands by bringing new and exciting technologies to provide some extra support and help. This is further supported by various nations in which the economy is growing at a tremendous rate.
For example, the Chinese retail industry had an increase of 10.3 percent in 2017. But the change in retail is mostly happening due to customer behavior. Understanding this puts you at a great advantage as you will be able to keep your store at the forefront of the retailing industry.
Now, as you may already know, there is an emphasis on digitalization in the retail business. In fact, more brick and mortar stores are being shut down because people simply prefer shopping online, which is more convenient. A way of staying ahead is by incorporating new technologies in retail. These innovative retail technologies are meant to help you improve how you provide products and services for your customers.
8 Technologies that Will Change the Future of Shopping
The future of retail lies in technology. Let’s check what tech could improve the shopping experience. Here are five technologies that can change the future of shopping.
#1. Staff and Cashier-less Shopping
It is not something radically new but with mobile phone and self-checkout systems, the options are widespread. We can find fully-automated grocery stores that excrete checkout queues, etc. Clients can use their mobile phones to scan products, interact with grocery support. Physical retailers are actively trying to leverage this trend by providing mPOS terminals to allow for quick checkouts.
#2. AI Chatbots
Chatbots help clients find a specific product or quickly answer common questions. AI chatbots, as well as virtual assistants, will reduce unnecessary calls to retail agents. These calls are usually expensive and can be very frustrating, especially when customers need quick answers.
One way of using AI chatbots is by incorporating them into various apps such as Messenger or WhatsApp or on your website. That way customers will have direct access to your virtual assistants and get the help they need. Chatbots can even take the place of a retail representative, thus helping customers to decide what to buy. While this technology puts customers at ease when shopping, it also reduces the expenses you have to make as a retailer.
#3. AI Facial Recognition
Facial recognition techs allow checking the age of consumers who purchase restricted products, etc. It can help an enterprise to also watch the facial expressions of customers when shopping. This gives you an idea of what customers prefer.
This way you will know what customers really need and provide accordingly. Other benefits of using this new technology in retail include:
- Track customer demographics;
- Monitor incidents of theft;
- Figure out areas of interest for customers.
Facial recognition technology, especially when used to monitor which sections of your store customers visit first will allow you to have a better layout, that will improve the shopping experience.
#4. AI Voice Technology
With new devices like the Amazon Alexa, clients can use voice search to browse and purchase products. Other retail companies and businesses have already invested in the voice feature that lets customers order products via Amazon-based products. A disadvantage of using these products is that the search has to be specific.
Another example of AI Voice technology is Google Home with more than 52 million devices sold in 2018. This product is especially useful when consumers use generic terms to search for items. When customers have access to this kind of technology, they can shop even when they are doing other activities.
#5. AR/VR-Based Innovations
The shopping experience is being completely changed with the help of augmented reality. There are AR systems which are providing customers with the option to virtually try out new clothes and products online. According to Statista, AR/VR-based innovations are the most widely used among retailers in the UK. Let’s check out the top AR-based techs:
It helps clients to visualize how new furniture will look like in a room while moving their phone cameras. One example is IKEA Place, which allows customers to buy the perfect fit for their home. These kinds of apps also reduce the chances of customers returning the furniture.
Sensor data (Beacons) — major retailers use these sensors at the stores as this way they can see how long clients are in stores and what they choose to buy.
AR beauty apps
Several retailers that deal with beauty products have apps that make shopping more enjoyable for clients. For example, the Mary Kay Mirror Me app makes it possible for clients to try on makeup via their smartphones. This way they can try several beauty products at once. No need to clean up after trying each product!
AR apps for fashion and footwear
These apps make shopping more interactive for clients. They offer various functionalities like helping customers find rare sneakers, trying different items in a magazine and even creating an AR fashion show. For example, Lacoste has an app where customers can try shoes in AR.
#6. Virtual Showrooms with VR/AR/AI
When it comes to buying clothes, customers are well aware that they have to try them out to make sure it’s a perfect fit. Customers are more likely to make a purchase of items they try on. So you can create Virtual Showrooms which are more conducive.
Such fitting rooms allow clients to try products in virtual space. Here, customers can use Smart memory mirrors to change colors of clothing they want to try on and more. These smart mirrors can also provide a 360-degree view of the customer upon trying a clothing item. Clients also have access to a side by side comparison between two different clothing items, so they can decide which one fits best.
#7. Omnichannel order-by-text services
Walmart offers a new delivery service that allows clients to order goods via text message to improve convenience. Adopting an omnichannel commerce approach makes the shopping experience more convenient for customers. This is not only for in-person use but also essential for the future of online shopping.
#8. The Internet of Things Shopping Experience
Retailers adopt IoT technology, bringing potential apps and new tech:
GPS Enabled Shopping Trolleys
They will allow clients to upload shopping lists, show directions, and more. You can also track these trolleys both inside and outside your store. This way you reduce the chances of having missing trolleys.
Electronic Rack Edge Tags
Retailers adopt electronic tags as they allow to update all product information through the internet. So once any change in price takes place, all labels will be automatically updated.
Monitoring if items are placed on the right shelf and whether they are still available can be a daunting task for retail employees. To solve this problem, you can use smart shelves. These shelves will automatically check whether items are available and placed correctly. It will also reduce the number of thefts.
You want to make sure that the most attractive items for customers are placed in the front. IoT tech with sensors allows you to create a layout of your store that suits the shopping behavior of your clients.
Robot Shopping Assistants
One of the best ways to reduce the workload of your staff is by using robots. It might be a little bizarre for customers at first but it is worth it in the long run. Robots will help customers find specific items with ease and can also provide information about available products.
Benefit from Our Experience
Our company is specialized in creating various software solutions and applications that will help your retail business. The bvblogic team is dedicated to providing the very best tools that will keep you up to date in the retail industry.
These tools are essential for the future of the retail industry. If you always wish to stay at the top of the competition then it is important for you to adopt vital changes first. We can help you with that right now!
Our Final Thoughts
The future of shopping is changing. If you want to stay relevant then you should turn to new retail technologies. There are so many of them that are designed to make shopping more conducive for customers. Technologies range from AR/VR based apps to smart shelves and self-service checkouts.
These should be adopted not only for your online store but for brick and mortar one too. Digital technology also reduces the need for workers, in turn reducing your expenses. No matter what technology you decide to adopt, we’ll make sure the customers remain at the center.
Never settle for less — with Bvblogic you can shape the future of retail and e-commerce. At bvblogic, we provide innovative services and developers to our clients across the retail industry to transform their ideas into real-life projects!