The latest technological trends are bringing a change in the retail industry that will make the customer experience smooth and also provide the retailers with opportunities to connect with them.
FREMONT, CA: Digital transformation has become inevitable and also unstoppable. The latest technological trends are affecting every industry, and the retail market is also not an exception.
Here are some of the expected trends that will have a significant impact on the retail market of 2020.
Augmented Reality (AR)
In the year 2020, it is expected that shopping experience will move beyond seeing, testing, or feeling a product. It will become possible for the purchasers to experience things without even touching them, and it is likely due to the increasing use of augmented reality. AR has become extremely advantageous for e-commerce retailers as they can quickly decrease the number of returns from their online buyers. It will become another tool for the brands and retailers that will help them to maintain and increase their sales and customer base.
Many organizations have started to witness how data has become a significant source to bring innovation and also enhance the consumer experience. Many crowdsourcing platforms assist the retailers and brands in moving ahead of digital data and collecting data from the stores so that they can understand the real-life conditions. Brands use crowdsourcing so that they can monitor price, retail audits, and also collect end-to-end data that will help them to form new strategies that will increase their customer base.
Consumers now can make payments for their purchases in retail stores with the help of peer-to-peer payments services and this system is revolutionizing the traditional payment methods. Digital payment options are becoming common in the in-stores, and many companies are also trying to experiment with several ways to make check-out easier.
The year 2020 will witness some significant improvements in the retail industry because of the escalating use of cognitive computing, data, and artificial intelligence (AI). Customer's experience will become smooth will all the rising trends and allow the retailers with more opportunities to connect consumers.