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Retailers face new challenges in the way goods are marketed, bought, fulfilled, delivered, and sold in a
highly competitive marketplace, but emerging technology innovations are ushering in new
opportunities as well. Retailers can leverage technologies, such as cloud, AI, robotics, IoT, and VR/AR,
to provide the shopping experiences that delight customers.
From in-store digital displays to online marketplaces and pop-up stores, today’s omnichannel retail eliminates the lines between channels. To compete and thrive, retailers must provide seamless shopping experiences that exceed customer expectations.
Curbside pickup, “buy online pick up in store” (BOPIS), “scan and go,” and “just walk out” options are here to stay, allowing customers to shop and collect goods conveniently. Micro fulfillment centers and partnerships with last-mile companies, such as Uber and Lyft, offer additional customer-pleasing options – all made possible through smart technologies.
Understanding changing trends and unique customer preferences is key to the success of every retail business. Powerful retail analytics can shed light on customers’ current and future needs, helping retailers shape their offerings. Personalized marketing and experiences – based on consent and trust – build customer loyalty and, ultimately, profitability.
Today’s consumers want to purchase from companies that demonstrate sustainable business behavior. Fortunately, sustainable business is good business and circular economy principles and zero waste through better planning can make a real difference to the bottom line. Advanced technologies are essential to provide the transparency that is required.
