September 2021retailtechinsights.com6EditorialRetailers, both essential and non-essential, have had to alter their business approach over the past one year, with most of them facing supply chain and inventory challenges throughout the pandemic. While offline retail has been hit hard, online retail continues to soar and flourish. Such hasty changes have pushed retailers to recognize the importance of technology moving forward, revolutionizing the way customers shop and organizations run stores, enhance customer experiences, and manage back-office operations.In line with social distancing measures, buy online, pickup in-store (BOPIS) option continues to gain momentum and industry analysts predict that this option will continue to be the preferred mode of shopping for many customers as they need not wait for shipping. This will further require retailers to implement data analytics and management tools on mobile apps to keep employees up-to-speed and a robust inventory management system to match supply with demand. At the same time, skincare retailers are increasingly growing reliance on-skin diagnostic chatbots that leverages AR to help customers deal with the common skincare issues in four major areas ­ pimples, wrinkles, spots, and uneven skin tone. All customers need to do is upload a selfie, fill in a short survey, and the chatbot then and there delivers a personalized diagnosis and product suggestions within 60 seconds.Alongside, through high-grade data analytics with the help of vast amounts of consumer data available to retailers--including consumer insights offered by various e-commerce and social platforms--it is becoming easier to get a holistic, 360-degree customer view of the consumer's behavioural patterns. Retailers can leverage such data to customize loyalty programs, plan ad campaigns, and boost conversion across multiple channels. This data also brings forth a massive opportunity for retailers to personalize the customer experience in order to build more lasting relationships.To make the most of these retail technologies transforming business methodologies worldwide, multiple retailers need that de rigueur partner that can help them boost business growth, while riding on the back of latest, up-to-the-minute technologies. We hope this edition of Retail Tech Insights enables you to find the right retail tech startup to stay ahead in the competition. Let us know your thoughts!The Stepping Stone to Ultimate Retail ExperienceCopyright © 2021 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof. September - 2 - 2021, Volume 03 - Issue 6 Published by ValleyMedia, Inc. To subscribe to Retail Tech InsightsVisit www.retailtechinsights.comManaging EditorLinda BurnsEditorial StaffAaron SmithJoshua ThomasLisa DebraDerrick JohnJohn JamesSteven RichardVisualizerVinay CruzEmail: editor@retailtechinsights.comsales@retailtechinsights.commarketing@retailtechinsights.com*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffLinda BurnsManaging Editoreditor@retailtechinsights.com
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