Exploring the Future of Technology in Retail
It’s hard to miss. Every time you go into the store it seems like there is a shiny new piece of technology waiting to be used by you, the consumer. It started years ago with self-checkouts simple stations where you could skip the personal interaction, get your groceries, and go on with your business. Now, you see kiosks for ordering your food at fast food restaurants, and devices that let you pay your bill in full-service restaurants. In fact, technology is so common in these places that many people are beginning to wonder whether or not it will completely take over.
Here are our thoughts:
Technology has the power to improve retail sales. Many people think of technology as a simple way to collect data and complete a transaction. However, what they don’t realize is that technology and all of its modern capabilities has the power to do so much more.
One example of sales improving transformational technology the use of virtual reality fitting rooms. Virtual reality fitting rooms use artificial intelligence to give a person a real-life example of how clothing would look and feel on them without the consumer ever actually having to put the clothing on. One company that is already doing this is Zugara, and news recently released that Amazon is looking into the technology as well. Many experts think that this invention has the ability to boost retail clothing sales tenfold. And, if a simple fitting room can do that, just imagine what else technology can do!
Technology has the power to simplify retail stores. If there is one thing technology can do, it simplifies our lives to include less clutter. And, in this sense retail stores are no exception. Through technology, stores that were once cluttered with boxes, checkouts, and overhead can be simplified to be more visually appealing to consumers and simplify their shopping experience.
For example, grocery stores across the country are installing mechanisms on their carts where shoppers can check items out as they go through the store, pay, and then be on their way as soon as they are done shopping. Talk about a time saver!
Technology has the power to improve the customer experience. If there is one thing consumers today care about, it is their experience with a retail company. They not only want a great product, but they also want to be able to experience that product and develop a connection with the company. Technology allows the best retail companies to do that.
Both Samsung and Apple have experience stores that allow consumers to come in, test out their products, and just enjoy the great capabilities they have to offer. And although this type of store might not produce sales on a first-time visit, it certainly creates a lifelong, trusting connection with the consumer - and we guarantee they will come back for more!
To put things simply, technology is not going anywhere any time soon. It will transform the retail industry in more ways than we could imagine because right now is just the beginning. So, sit back and enjoy the ride.
What ways have you seen technology transform retail? Are you using any methods in your own business?