Technology influencing the store of the future

2016-03-01 | by Smollan

“We are going to experience more change in the next 10 years than over the past 50 years”, according to David Roth. Technology will be one of the biggest contributors to this change. Retailers now need technology in store in order to create seamless, convenient and fast facilities in order to win over and maintain loyal shoppers.

Technology will also prove to be cost effective in the long-term as it will improve process efficiencies and stock on hand accuracy. Technology will provide a massive amount of choice for shoppers. They will be able to browse, shop and purchase over a multitude of channels, as in store and out of store will be intrinsically linked. It will also make the shopper’s journey easier, personalised, provide more options and improve the overall experience.

Solutions that will be particularly effective in the future will link shoppers’ devices to in store technology. Beacons, smartshelves, virtual reality, retail apps and social showrooming are a few examples of exciting innovations that will change the way we shop.

Brick and mortar will always be a part of the retail experience, but will be more exciting than what we know today. Technology will play a pivotal role in closing the gap between in-store and online, creating an overall more exciting and satisfying experience.

Sources: Synchrony Financial. 2015. 5 ways technology is revolutionizing the way we shop. Business Insider. [Online]. Available at: http://www.businessinsider.com/sc/technology-changing-the-in-store-retail-experience-2015-10

Charlton, G. 2014. 12 more examples of digital technology in retail stores. Econsultancy. [Online]. Available at: https://econsultancy.com/blog/64408-12-more-examples-of-digital-technology-in-retail-stores/