It is difficult to forecast trends in the Retail Technology Group. There are many buzzwords within the industry and numerous tech providers claiming their solution is the next big thing.
Which technology trends in retail are worth the hype and why? How can you decide which technology trends to pursue in your retail business?
Answer: You can rely on data. Pay attention to changes in your market, especially when it comes to purchasing behavior and preferences. Each market is unique and each company and customer will have different needs.
We looked at the Retail Technology Group trends of recent times and compiled a list of top tech trends to watch and how to implement them in your business.
Solutions that allow “pre-store” research
FOMO (fear and obsession with missing out) is overrated. COVID-19 has made it possible for consumers to experience FOGO (fear going out)
People are more careful when shopping offline microsoft technology centers and are changing their buying habits to be less impulsive. Pre-store research is a method by which consumers search online for information about the products and stores before they visit the store.
Pre-pandemic 90% of shoppers reported that they did a web search before going in-store to purchase a product. This number has almost certainly risen in recent months.
What does all this mean?
First, your products and stores are not visible on Google. This can lead to lost foot traffic and reduced sales. It is crucial that you implement solutions that place your business in front of shoppers at the “pre-store” stage of their research.
When they search for your products online, this means that you want your store to appear in their radar.
Integrating your POS system or inventory management system into Google Search and Maps is one way to do this.
This is possible with solutions like Pointy, which was acquired by Google in 2020. Connect Pointy to your point-of-sale solution and it will display your real-time inventory online so that your customers can see what’s available.
This trend can be seen in action at the pet shop Dingoes. The Google Business Profile of the store lists all products in-store so that customers can check availability before they leave.
2020 was not an easy year for retailers
Brick-and-mortar shops saw their foot traffic drop even before the pandemic, but lockdown measures have allowed more people to go online. This was a bad thing for retailers without omni channel presence.
Also, the hopes of more offline buyers Retail Technology Group returning to COVID-19 during the COVID-19 fall and summer plunges in early autumn have also fallen apart. Shoppers have stayed away from shops that could be crowded by people because they are hesitant to go in. Shoppers say that 37% would rather shop online, even if the lockdown is lifted.
