Tech Trends That Can Transform the Future of Retail

By: Retail CIO Outlook | Friday, October 16, 2020

The COVID-19 pandemic can give rise to several challenges, but the retail sector can use it as an opportunity to improve their services.

FREMONT, CA: Digital transformation has reshaped shopping, both online and offline. The pandemic has not only successfully changed people's lifestyles, it has also altered the ways of conducting business. However, it has been witnessed in the software development industry that many technological trends have future potential. Here are some of the tech trends that can reshape the future of the retail sector.

Data Science-Based Personal Interaction

Today, personalization tools are incredibly successful because of the progress made by data science and machine learning. The engines powered by DS and ML can make personal recommendations to the customers even before they know what they want. According to most of the online-based shopping platforms maximum of their sales are driven by the recommendation engine.

Instead of inconveniencing people by forcing them to download an app, the recommendation engine utilizes the incentives that are based on the necessities and desires of the consumers. The recommendation system applies the machine learning method and collects information about customers and builds their shopping profiles.

Friendly POS Systems for E-Commerce

Several business owners have tried to make use of the e-commerce platforms during this COVID-19 pandemic to optimize their online sales process. The SaaS providers of the cloud-based ERP solution for the retailers have shared that the demand for a fully integrated POS and e-commerce solution is increasing among the business owners.

The retailers are having started choosing e-commerce systems that will allow them to sell their products on the online platforms making POS integration and e-commerce a better solution during and also after the pandemic.

Augmented Shopping

Several brands forecasted that by the year 2020, millions of consumers would make use of the augmented reality during their shopping experience, and they were correct.

The quarantine conducted due to COVID-19 has isolated people, so the demand for AR systems has increased rapidly. The augmented reality has successfully attracted customers by following the trying before buying approach as it allows the customers to interact with the products online.