They say technology is changing everything around you. Yes, a lot has changed and even more is changing with time. However, there are some instances when you have to force yourself to find the effects of technology in a particular field, profession, industry, etc. Same is the case with technology in the retail businesses. Do you see technology doing anything special in this particular walk of life? The truth is, yes, technology is bringing about some huge changes in the retail industry as well. Let’s take a closer look at the facts.
Retail Businesses and Technology
It won’t be wrong to say that retail businesses are taking some time to accept the technological changes. A consumer might not notice a huge change in her shopping experience today and that from the previous years. However, once the retail businesses have accepted the new technological changes, the difference will be huge. Here, it is important to realize that technological improvements in the retail sector is more focused on improving customer experience than anything else. So, many of the things are working in the back end and are invisible to the eyes of the consumer.
In some parts of the world, shopping experience has completely changed. For example, some brands have introduced shopping marts where you don’t have to pick the products and put them in your shopping cart anymore. What you are looking at while walking through the aisles is screens with products displayed on them. You click on a product, find out more information about it by clicking on the display, and press the “add to cart” button if you want to buy the product. You don’t carry the product physically at any point. In some cases, you do lift the product physically but you can still use barcodes to find out more about products while shopping.
In some cases, the technologies are focused on the retail businesses and how they can improve their services for the customers. As a result, those technologies are not visible to the consumers. The best example is the new receipt OCR scanner technology. Scanning receipts should be more than counting the number of customers who bought at your store now. With this new technology, you can scan just about any piece of information from the paper receipt and have it automatically uploaded in the cloud. Once uploaded, it becomes part of your business’ valuable data that you can use to know your customers and their shopping habits. Consequently, you can provide them with a shopping experience that goes well with their interests and requirements.
In the end, it is important to realize that retail technologies are all about improving customer experience. You even have robotic shopping carts that walk with the customers so the customers can shop handsfree. Innovation done only for the sake of innovation is an unnecessary expense. A technology should definitely be used to improve customer experience even if the customer can’t see it or give a “wow” reaction after experiencing it. With digital currencies becoming more viable with time, future seems to be quite interesting for retail businesses.