In today’s world, technology plays an integral role in helping consumers make purchase decisions. However, it’s the trends that keep emerging in the retail business that really drives the consumers to make actual purchases.
Due to this, a vast majority of retailers spend a significant amount of time reading the market in a bid to offer incredible and compelling products to their consumers. Even so, most retailers have seen the importance of technology in influencing consumer excitement. Due to this, retailers are waiting safely to identify which technology trends will make the most impact before taking a step forward.
As much as this might be the only sure way to get more consumers, it doesn’t seem to work in today’s world. If you are a retailer, you have to be agile, versatile and insightful in order to successfully compete in the marketplace. This means you will have to go a notch higher in most trending and useful technology in a bid to meet our consumers’ expectations.
It’s of utmost importance to remember that selecting an agile technology for your business will play a crucial role in improving your customers’ overall experience when shopping in your store. The good news is that you can get information on such tools on value q deals. This is a website where you can get detailed reviews of different devices, and impeccable deals that are unmatched.
One such impeccable and modest device is the Ecovacs deebot robot vacuum cleaner. Not only is this product top of the line when it comes to vacuum cleaning, but it also boasts of incredible features such as LDS navigation system as well as a camera. This makes it scan your floor while cleaning, thus improving the overall efficiency.
The following are top technology trends that are set to shape the retail.market in 2020.
1. Store Associate 2.0
According to recent statistics, about 43% of customers are more likely to buy products in your store if they have direct interaction with a sales associate. At the same time, 12% of these customers are more likely to revisit your store once they buy items. These are incredible numbers that can be achieved by any retailer, thanks to Store Associate 2.0.
All these statistics can be attributed to consumers access to technology. The best thing about this technology, however, is that you are able to connect different associates to online customer transactions. This way, you will be able to compensate your customers with ease.
2. Spatial Web
While many brick and mortar stores are continuously striving to be like e-commerce stores, online stores are equally struggling to be like physical stores.
For the most part of the previous decades, e-commerce was characterized by live e-commerce, where video content is combined with e-commerce. However, the online retail space has taken a step further with the introduction of Spatial Web, which enables the customer to customer live interaction.
This way, viewers are able to ask different questions to their influencers in a bid to learn different skills e.g. application of makeup.
3. Supply Chain Artificial Intelligence
It goes without saying that Artificial Intelligence (AI) is not a new concept when it comes to technology. However, if you are a retailer, the concept of integrating Artificial Intelligence to your business can be quite new.
In the past, artificial intelligence was vastly used in the retail market to increase customer experience. This covers a total of 74% of all artificial intelligence cases in the retail market.
However, did you know that you can save an extra $340 million by scaling AI on your value chain?
This is because artificial intelligence has the potential to greatly add efficiency by identifying and preventing any possible mistakes.
This way, you will be in a better position to offer predictive results on these mistakes and offer actionable results on these mistakes.
4. Sustainability and Social Responsibility
According to GreenMatch, the 2020 retail market will vastly be characterized by a plurality of consumers. But what makes these consumers unique?
One thing that stands out among this generation of consumers is that they are more loyal to the actual values of a product than the actual brand itself. This means that they will often be quick to abandon a brand if it doesn’t resonate with their valu3s.
While it’s of utmost importance to identify this group of consumers, it’s equally crucial to identify their values as well. These values mostly include social responsibility, authentic experience, locally sourced foods and sustainability among others.
Some of the biggest brands in the world today, including Me Tote and Poshmark, have successfully identified and embraced these values thus having a chance to stay afloat.
By using technologies that embrace social responsibility and sustainability, your business will be able to experience a brand valuation increase.
Additionally, you should ensure that the technologies you choose make it possible for your customers to source data with ease.
5. Retail 4.0
Another incredible technology that is set to take the retail market by a storm is Retail 4.0.
Basically, the term Retail 4.0 is a common term used to describe a number of technology trends that are aimed at improving customer experience. It ensures that the customer is able to get a seamless single-channel experience compared to a less responsive merchandising experience. With these tech trends, you will be in a better position to reshape your brand by putting more emphasis on the role of your retail store.
One of the most useful tools is the Augmented Reality (AR). This is an advanced analytic tool that helps ease the entire learning process of the market. With such a tool, you will be in a better position to strategize your business in the market through different analytics made available by this technology.
However, while this tool can help increase the value of your business, you should first of all start by having a cohesive vision for your business. This vision will be your guide to mapping a possible IT road that will uniquely create a distinctive voice in the retail market.