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The Latest Technology Trends in Retail

The Latest Technology Trends in Retail

Very similar to libraries:

“To achieve a high satisfaction level, retailers are using technology in all processes. Here’s how.

  • Inventory tracking – Electronic Data Interchange (EDI) allows for computer-to-computer exchange of business documents. It reduces costs, increases data transfer speed, minimizes errors, and improves business partnerships. It enables for simplified tracking of transactions between the supplier and the store.
  • Automatic replenishment systems – these systems work in almost every industry, helping retailers automate and optimize the replenishment of multiple categories of products, from fresh produce to clothes. Since the process is automated, employees can focus on their work without the fear of lost or spoiled products on shelves.
  • Virtual shelves – the retail stores of the future probably won’t have shelves stocked with products. Instead, they’ll have digital kiosks where customers can scan products. In a way, this will be a brick-and-mortar extension of a retailer’s website, providing a truly effortless shopping experience.
  • AI registers – new types of registers allow customers to scan their items without the cashier. Smart registers are the latest solution to creating a fluid customer experience. However, there’s still room to grow and improve the systems of item recognition, customer identification, and payments.
  • AR and VR in retail – another technological innovation that improves the shopping experience is virtual and augmented reality. While consumers have fun trying out clothing or checking out furniture in a virtual setting, businesses enjoy reduced costs. AR and VR also offer alternative marketing methods with interactive and more engaging apps.
  • Proximity beacons – beacons are wireless devices that can detect mobile phone users. These devices help the stores interact with customers who have downloaded their mobile phone app. With beacons, businesses can communicate with customers, participate in real-time marketing, increase sales, understand customer behavior, and more.
  • Shipping automation – shipping automation saves valuable time that can be used for decision-making or other processes. Companies use software to set rules for shipping orders, for example. Businesses can also automate shipping labels, tax documents, picking lists, packing slips, etc.
  • Robotics – robots will surely take over some human jobs. Just like they disinfect the hospitals during the coronavirus pandemic, robots can also be used to move goods from shelves, analyze the inventory, and clean. They can also replace in-store customer service or warn about safety hazards. “

Posted on: February 17, 2021, 6:33 am Category: Uncategorized

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