New technology is being developed everyday.The technological challenges involved in retailing include the planning of strategies to produce efficiency, effectiveness, advantage and profitability. How resources fit these strategies, the people involved etc. ultimately decide the successful implementation of technology. Tech has evolved into cheaper, more accessible applications.
Many businesses across different sectors are being transformed by technology and its advancements ranging from improving productivity through increased efficiency and personalising promotional offers based on the increased surge of data generated from a variety of sources.
Shoppers experience is now set to be transformed by technology whether we embrace it or not. Retail stores have recognised that this trend is crucial to remain competitive and, according to the report, 75% of firms are looking into tech that will analyse a customer’s in-store movements. For example, by offering a customer an offer if they are lingering in a certain area, or dispatching a store assistant to serve them.
This tech can also help retailers improve their merchandising decisions. Burberry recently showcased interactive microchips into some of their clothes, allowing a customer to look into a mirror that transforms into a screen and shows how the garment would look on a catwalk.