The advancement of technology in the retail industry makes us say wow because it amazes us by changing the retail experience entirely and opening up a different world of possibilities. Now you don’t have to think twice about going shopping. Also, you do not have to spare time from your busy schedule to make a list of your monthly grocery shopping time because the latest retail technology trends revive the stores differently and bring ease and efficiency. If you are interested in knowing more about the top-notch retail technology trends, then continue reading it.
Top Emerging Technology Trends for Retail Industry
The retail technology trends are reviving the stores to a great extent. With the help of technology, retailers can streamline their relationships with customers, suppliers, and manufacturers, fulfilling the market needs more efficiently. Nowadays, the customer’s expectations are at their peak and are forcing retailers to turn towards technology in order to deliver an innovative, personalized, and omnichannel customer experience. Undoubtedly, the technology’s leading digital transformation in the retail industry is completely transforming the ways customers shop.
The cloud-based point of sale software technology is one of the most valuable tools to enhance retail management. Previously there was a legacy point of sale technology that was confined to one place; however, the latest trend in retail transformed the traditional Point of Sale into a cloud-based POS that has gained the ability to not only manage transactions but also provide a one-stop solution to manage inventory, sales, marketing, customers, business analytics, staff and many more. Similarly, the cloud-based POS software also provides retailers with real-time suggestions to increase sales, improve store efficiency, and stock up on the most needed products.
Voice commerce is also the latest and emerging retail trend, which is giving customers an innovative yet exciting way to order their products with the help of smart devices and voice. Similarly, many other intelligent assistants such as Bixby, Siri, Google Assistant, and Alexa contribute to voice recognition and responsiveness. However, voice e-commerce gives businesses a considerable edge as it is prevalent among customers as it keeps the hassle away and saves time. Customers don't have to scroll or view the website to shop for a particular product. All they can do is use their voice to order products easily. Similarly, the touch-free technology of voice eCommerce, facial recognition, and gesture-based technology help retailers and customers reap maximum benefits.
Omni Channel Customer Engagement
Omnichannel customer engagement is also one of the best retail industry trends that provide a unifying inbound and outbound communication platform to customers to maintain a contextual interaction. The omnichannel customer engagement strategy is very successful because it nurtures customer engagement through digital technology like email, the internet, and social media. The customers could only interact with a particular brand through billboards and TV commercials in the past. However, omnichannel customer engagement keeps customers connected and gives them multiple channels for product research, purchasing, asking questions, and sharing their reviews. Howmuch. pk is an omnichannel platform with a B2C e-commerce market.
Automated Inventory Management
Automated inventory management technologies are the leading digital transformation in retail. Gone are the days when the staff manually kept track of the inventory. The modern retail technology trends are reviving the store's operations and eliminating the need for paper and pens. Artificial intelligence in inventory management works excellent as it keeps track of every item in inventory. Retailers can easily find any object just by entering their SKU. Similarly, the Inventory management software keeps retailers informed about their most or least selling items. If the store runs out of inventory, the inventory management solution automatically generates the notifications to keep the management informed.
Customer management is also a fantastic retail top emerging technology trend for the retail industry that improves the customer relationship with your business. The Customer relationship management software keeps track of customer details, gives them suggestions on their most buying product, and keeps customers engaged. Furthermore, the top emerging technology trend for the retail industry in customer management is the customer chatbots which is message-based customer service. It reduces the pressure of calls on customer service representatives as customers leave their queries. At the same time, the CSR responds to them efficiently.
Contactless payment and contactless ordering service is also the top technology trend in retail. The customers can easily make orders online through the web or application and process their transactions online through multiple payment gateways. Thus, it eliminates the need for direct interaction with the staff. Due to the COVID, most the customers prefer to maintain minimal interaction for grocery shopping, and in this time, the contactless service gained immense recognition.