Retail CIO Outlook Weekly Brief
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The retail tech investment trends are evolving with time and have created a buzz among the customer base.
Fremont, CA: The technological innovations in the retail landscape have been transforming since the past decade. Retailers have invested in billions to stay up to date with the latest technological adoptions to enhance the in-store experience.
Retailer investments have paid off
Even though the retailers are to being updated in all ideas tech, the existing shopping technologies have been a hit among the consumers. The retailers have spotted a regular improvement from online shopping to retail outlets saying 8 out of 10 consumers have had better interactions with the vendors, thanks to technology investments by the retailers. Especially millennials have felt that the innovations have augmented the overall shopping experience.
Opportunities remain until the company decides to take it
The scope for improvement technology-wise remains in the early stages of shopping, whether online or retail outlet. Consumers feel that researching products or reading reviews can be better optimized with solutions that assist in the initial stages of the shopping journey.
The overall frustration levels decrease once the shoppers have reached the checkout stage, where the extreme focus by the retailers to provide smooth experiences has worked out. Technologies, like booking the goods online and collecting it through the shops, have quickened the process. From self-checkout to mobile payment to buy online, pick up in-store, consumers have cherished the retailers’ solutions, with approximately two-thirds, have expressed satisfaction with their experience.
Consumers express curiosity in retail’s emerging solutions
Shoppers depend on retailers to solve the concerns they pose. Consumers also showcase interest in understanding and using the newest technologies that haven’t been widely adopted yet. As today’s shoppers expect more from the retailers as they consider the holistic digitalization of the shopping experience.
Retailers appreciate their customers, who expect an overall effort to provide innovation. From digital price tags, the industry is constantly embracing emerging technologies to improve the consumer’s entire shopping journey.
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