Four Cutting-Edge Retail Technology Trends
Aug 31, 2016
In this day and age, technology drives the retail experience. With new technologies emerging at such a rapid rate, the retail landscape is changing so quickly that many consumers can’t even keep up. By adopting innovative technologies before their competitors, retailers can enjoy a first-mover advantage that increases their bottom line.
Internet of Things (IoT)
The IoT connects physical objects to one another in a single network that’s easy to control. On the consumer side, it makes shopping more convenient than we could have imagined just a few years ago. Consider the rise of eCommerce. Expect to see more trends that depend on the IoT in the coming years, such as virtually dressing rooms you can use to try on clothes from your smartphone. For retailers, the IoT provides invaluable insight into customers’ shopping behavior and market trends.
High-speed video streaming technology, accessible from virtually anywhere, has led to an increase in the number of product video demonstrations, as well as the rate at which these demonstrations are viewed. Market research suggests consumers who watch a full product video demonstration are much more likely to purchase that product than a consumer interested in the product who doesn’t watch a video demonstration.
Increasingly accurate voice technology is on its way to rendering traditional SMS messaging obsolete. As voice technology becomes more widespread, we’re starting to see its use for all sorts of purposes. Retailers who use voice technology to enhance the type-and-search process can analyze customer search trends and optimize their retail platform accordingly.
Beacons use Bluetooth technology to transmit information to Bluetooth-enabled smartphones in the vicinity. While concerns about intrusion by retailers have been a major part of the beacon technology dialogue. As long as these and other concerns are smoothed out, beacons will enable retailers to reach consumers in revolutionary ways. The beacon can transmit a welcome message on arrival to the shop, offer discount codes for products consumers pass, and promote new products. They can also be used to notify staff when a product is running low so the shelves can be restocked and more product ordered.
Retail technology encompasses much more than eCommerce. If you’d like to wire and equip your business with the devices that make reaching consumers in new ways possible, call WiredUp Installation at (480) 836-1446. Our experienced tech installation professionals can launch your business to the forefront of the retail technology frontier.