Buying from the same market each week because they have the best fruits or visiting a certain boutique because it carries the trendiest clothing, a real-life, genuine connection between a customer and a merchant has been a part of the process. Below given are the trends on how technology can change retail businesses.
FREMONT, CA: Technology is often considered the culprit, but a slew of digital technologies are fueling retailers' ability to evolve and take customer relationships to a new level. They're also boosting efficiency and lowering costs. Technology is often considered the culprit, but a slew of digital technologies are fueling retailers' ability to evolve and take customer relationships to a new level. They're also boosting efficiency and lowering costs.
When virtual reality grabs the headlines, the augmented reality is driving change within the retail space. Vendors can benefit from AR in several ways. One of them is by embedding AR in apps and deploying smart mirrors in stores. One of the biggest is by integrating AR in apps and using intelligent mirrors in stores. It can range from cosmetics, eyeglasses, and clothes to carpeting, furniture, and paint. Even home users can also use a version of the technology. After the facial scan, the shopper gains suggestions for glasses based on age, gender, and facial features, and he or she can compare numerous designs quickly.
AI is changing the way how retailers interact with customers. Here are several ways to extract value from AI; these include customer service chatbots, image recognition used in online shopping, voice recognition for customer authentication or digital assistants, and optimizing promotions and product recommendations. AI can deliver a more in-depth view of customers and their behaviors. It can digest images, video, sound, and text, and interact with IoT sensors in stores and homes.
The IoT is taking shape and impacting retail in a significant way. From automated mobile checkouts and smart shelves to personalized ads and connected products, businesses and consumers are sold on the IoT. The opportunities to tap the IoT are broad. It comprises digital signage and magic mirrors that can display different clothing or cosmetics styles. The ability to track shelf activity in real-time, automation, and checkout improvements, including automated checkouts and the use of connected devices and systems, optimize physical store layouts and displays.