{"id":179232,"date":"2017-07-25T09:30:00","date_gmt":"2017-07-25T14:30:00","guid":{"rendered":"https:\/\/www.ntegrait.com\/tech-sells-ways-the-retail-industry-has-already-changed-forever\/"},"modified":"2024-05-31T11:30:28","modified_gmt":"2024-05-31T11:30:28","slug":"tech-sells-ways-the-retail-industry-has-already-changed-forever","status":"publish","type":"post","link":"https:\/\/ntegrait.com\/tech-sells-ways-the-retail-industry-has-already-changed-forever\/","title":{"rendered":"Tech Sells: Ways the Retail Industry Has Already Changed Forever"},"content":{"rendered":"
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Retail and technology have a complicated relationship. Technology has an unending list of ideas for retail stores to adopt, but the retail industry is very cautious about investing in anything unless it knows that customers will be onboard. As a result, retail tech tends to advance in fits and starts, rapidly changing in short periods of time. Unless you\u2019re caught up on the latest trends and know which are here to stay, it\u2019s easy to get caught off guard.<\/p>\n
We\u2019re currently in a period where technology has a\u00a0lot<\/em>\u00a0to offer retail, so it\u2019s especially important to pay attention. Here are the big ways things are already changing.<\/p>\n Brick-and-Mortar Shopping No Longer Exists<\/strong><\/p>\n Oh sure, customers can still drive down and walk into a variety of stores where they can peruse products. But true brick-and-mortar experiences don\u2019t exist anymore \u2014 because every one of those customers has a smartphone in their pocket or purse, and those phones link them to the internet and all the online shopping opportunities they could want.<\/p>\n This is huge news that retailers have been a little slow to accept. They can no longer control what the customer sees, even when the customer is in the store. And people, especially the younger generation, are more willing than ever to pull out their phones and take a look at other stores and buying options to see if they can find a better version or a cheaper price elsewhere. And now that companies like\u00a0Amazon\u00a0are expanding their grocery services, that\u2019s even true of everyday food products and other items that were relatively safe from comparison shopping. It\u2019s vital to remember that online shopping isn\u2019t just a computer experience \u2014 it\u2019s everywhere, including inside stores.<\/p>\n Mobile Tech Will Make Transactions Even Easier<\/strong><\/p>\n Speaking of the power of smartphones, we\u2019re already seeing the massive growth of smartphone payment systems that use digital wallets and NFC chips for fast payment. Retail has been slow to embrace this option for a variety of reasons \u2014 chief among them, consumers weren\u2019t quite sure what to make of it, and digital wallets had limited, brand-oriented functions. Now Apple Pay, Samsung Pay, Android Pay and other wallets have grown more flexible and people are more willing to use them. Within the next several years, expect to see self-checkout stands give way to more mobile pay options that make the whole experience easier to manage.<\/p>\n But payments aren\u2019t the only things phones can do. The smartphone is becoming part of the buying experience in other ways, allowing customers to look up detailed information about any product in their hands. Retailers that provide this type of information will have an edge.<\/p>\n Stores Already Know What You Want<\/strong><\/p>\n Thanks to advanced CRM systems, retailers are collecting a vast amount of data on individual customers and what they are buying. In the online world, this is leading to more accurate predictions about products being bought. Instead of \u201cIt looks like you might like this,\u201d online stores are moving toward an \u201cIt\u2019s time to renew your order of this\u201d model. Amazon is one company leading the way on this, but customer data is available to most retailers, so expect prediction to become increasingly important.<\/p>\n Delivery Is the New Checkout<\/strong><\/p>\n While online companies are experimenting with drone deliveries and other fanciful methods, brick-and-mortar retailers are using technology in an entirely different way: To sell and deliver. We\u2019re seeing a new wave of traditional retail stores \u2014 especially grocery and foodstuff stores \u2014 encouraging people to order online instead of coming into the store. This warehouse-like model then divides into two different options: Either delivery right to your front door (an option that has been tried repeatedly in past years but looks like it\u2019s sticking around this time), or delivery to your car after you pull up in the parking lot. Customers save time either way, but this does raise questions about just what the inside of the store is for these days. It\u2019s also worth noting that this method allows people to shop at any time of the day and arrange a delivery at their convenience.<\/p>\n Businesses Hope You Like Robots<\/strong><\/p>\n Automation is coming to all industries, but it turns out that robots are a pretty great fit for retail. They are excellent at repetitive tasks like stacking, folding, and noting inventory levels. Some retailers have even started to experiment with robots that move around the aisles with friendly touch screens that let shoppers ask questions or find more product information. Of course, robotics does come with downsides: It requires heavy investment and raises a long list of employment questions.<\/p>\n Our Assistants Are Doing the Shopping for Us<\/strong><\/p>\n