Retail CIO Outlook Weekly Brief
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Online shopping has globally revolutionized the conventions of the retailing industry. The customization conceptualizations, computerized trade and marketing methods, secured universal payment gateways, and more such capabilities are adding value to the e-commerce industry. Technologists initially believed that the emergence of the e-tailers has eventually moved the physical stores towards extinction. But, the new trend of preserving the value of the retailing industry by combining the authenticity of the physical store and the incoming digital innovations has radically re-evolved the ‘go-to-store’ or offline shopping practices. See how!
The increased technological influences on the paradigm of electronic shopping have raised customer demands and expectations, which are challenging the offline retail market to create unique and dynamic physical in-store shopping experiences. The retail industry faces a critical need to scale up its standard and competency levels amid the advancing digital era. Customers are looking for the ‘extra’ factor, which is to be offered by the shopkeepers as an attempt to showcase the importance of regular shopping and take it to the next level. Along with the unique product and service portfolio, physical stores attract consumers with expert query assistance, warm reception, and more.
Check out: Top Retail Tech Companies
Securing its future the retail industry has opened doors to transform its work style by adopting various high-tech innovations and integrating them with the business conventions to stand firm as a contender. VR-driven product descriptions, AI-based customer assistance, IoT-integrated service systems to search for the requested product, and offer risk-free payment procedures, and more such adoptions help the physical store digitalize its operational approach. Multiplying the essence of a range of benefits provided by technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), Augmented Reality (AR), Machine Learning (ML), and Virtual Reality (VR) with a human touch, physical store is unlocking value-added ways to fit the customer preferences quickly.
Few Top Retail Tech Companies (Appriss Retail, Creatuity, FreedomPay)
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