Back to the Future – How Will Technology Shape Retail in Future
Doc Brown and Marty McFly gave us some amazing insights of future and surprisingly many things actually have become a reality from the movie; I still believe they really never touched upon how would we be shopping in future. From smartphones and mobile devices to digital currencies and online payment methods, technology is rapidly changing the way we interact in our shopping experience.
It is rightly said that in shopping, customer experience in interacting with your product or the sales person is the most important aspect that makes them buy from you. I believe that in future the emphasis will completely be on the aspect of customer experience.
Already in today’s world, we have technologies available that can be extended to give the customers near real in-store experience when they shop online on web or through their mobile. Companies of future will try to bring virtual experience in store for some products that can be tried using holographic and VR headsets. It will not be long when you can move in a large shoe brand store and stand in front of a mirror and see the shoe style changing in your feet by tap on the mirror.
Customer is King
Once you are able to provide that needed customer experience with your products, it is the possibility of treating your customer in most personal way that will swing the game in your direction. We have all seen this happening already with personal touches in small shops when the owners know their customers well. Technologies of future will make the same experience possible now for any size of retail shops from small to large with multiple locations.
Retail stores of future will automatically greet customers personally as they walk in the store. With real customer data crunching showing real-time insights to sales representatives will make them greet and act with the customer better. Consider walking in a store looking to buy stuff for your trip that you posted on Facebook or Tripadvisor and the executive offers to help you finding stuff for the trip or suggesting things as per temperature at the destination.
From internet based shopping on beds or couches of your homes to now being able to shop using mobile phones and devices; retail in future will change further to provide more convenience to consumers.
Retailers of future must think of implementing technologies that will give more convenience for customers both using internet and in the stores. Imagine walking with a shopping bag of items that you have picked through the store which get checked out of the money stored in your store wallet card automatically without standing in long queues all the time.
There is no doubt that landscape of retail has changed a lot and will change more rapidly with technology changes happening everyday. Insights above on key principles of retail are just only a glimpse of what can be achieved to sell more and better.
Many of these things are already happening or will be soon seen in near future. Being a retailer you should already start gearing up if you have not as yet taken steps in modernizing your business and processes. Missing out on the potential benefits and increased sales revenue that the latest retail technology and software solutions are able to provide can find business owners missing out on far more than they might expect. So I suggest to contact your trusted IT partners and fly back to future right away….