Artificial intelligence, dominating in every sector, has evolved the way we shop. From personalised shopping experiences from every corner of the world to seamless shipping, everything has been made possible with the use of technology. Have you ever wondered how you come across the product you desire on the shelf as you walk into the store or how an online store suggests the product you most likely prefer? That is the power of smart retail.
Smart retail combines technology with shopping to make your buying experience much better and more enjoyable. When technology is combined with shopping, it is a win-win for both retailers and buyers. For retailers, it means a better understanding of customers to provide them with the right thing and manage stocks more efficiently to meet constantly ongoing demand. For shoppers, it means getting personalised suggestions based on their past shopping behaviour to speed up the purchase.
Ways how technology by retailers make our shopping better
Here are the ways in which technology is improving the shopping experience of users.
- Transparent screens
Storefront windows will be more interactive in the coming days. These revolutionised screens will not only display goods but also let you check the entire catalogue even if the shop is closed. You can start interacting with a single tap on the screen. It is a recent development, will take some time to be all in stores. These transparent screens will also be installed in the fitting room as a mirror, which will keep providing information about products without influencing the customer’s view.
- Smart shelves
Smart shelves are the perfect example of the Internet of Things. Everyday objects connected with sensors tell a lot about the consumers’ shopping behaviour and how they use products they buy from retailers. Smart shelves were introduced back in 2015 with the sole purpose of knowing how customers behave in the store, which had been a missed opportunity until then.
Sensors determine the gender of a person by analysing facial structure and other characteristics. Once they figure out who is standing in front of the shelf, they will alert the display to feature something that the person of that age and gender would want. The shopping data is collected by software that retailers use to analyse what brands are more popular with, for example, teenage boys and girls, and then they analyse whether or not they have placed products in stores. With the help of shelf sensors, retailers make better choices about products to provide a personalised shopping experience to buyers.
- Robots taking retail
Scanner robots in big retail stores can prevent retailers from getting out of stock. A smooth shopping experience is one where your customers do not have to back order for an item they have found in brick-and-mortar and online stores. Scanner robots can point at products that are out of stock, send images and transmit information to ensure the needed products are unloaded first.
One of the best benefits of working robots is that retail stores can be more productive. Automated warehouses and grocery stores are getting a lot of benefits from using robots. Another benefit of using robots is that they carry out mundane tasks, leaving employees to work more high-value jobs, such as teaching customers about new customers to boost sales.
- Personalised prices
Retail stores will now place emphasis on personalised prices rather than public prices. This means that now, every customer will get the same product at different prices. This will be done based on the data collected by software, such as where they shop, what they buy, their income and brand loyalty. Based on the purchase history, the deals will be offered to them. When tailored prices are offered to customers, shopping becomes more personalised.
- Effortless shopping
Technology has made shopping easier and quicker. A couple of stores are becoming more advanced in order to ensure your shopping experience becomes much better. Now, you do not need to wait in the long check-out queues carrying your purchased items in the trolley.
IoT sensors can detect the prices of the items you have picked off the shelf, and then the money will be automatically charged to your bank account. All you need to do is scan the QR code on the shelf through your mobile. It means you do not need to wait in the waiting lines. You can pay for anything anytime from anywhere.
Some retailers are becoming more advanced by letting customers choose a delivery time so they do not have to carry physical objects along with them. This kind of invincible shopping experience has been unprecedented so far.
- Holograms
Hologram technology in fitting rooms will enable customers to try on new clothes without being undressed. With the help of this technology, customers can easily assess whether what they are buying looks good on them. Hologram technology is not just limited to clothes shopping. You can use it while buying groceries.
You can get the details of the ingredients to ensure you do not buy anything that you are allergic to. Hologram technology is stopping retailers from spending money on large spaces to keep mannequins, racks and shelves. Now, retailers do not have to take out 12 month loans from a direct lender. The less space there is, the less money is needed.
- Shopping anywhere anytime
Technology is prompting retailers to make in-store and online shopping experience better. Nowadays, many customers buy stuff online from the comfort of their homes. With the help of advanced software, you can track the data of every customer. Once you know about people’s tastes and preferences, you can send them personalised notifications to pitch them to buy. Additional coupons and discounts are offered to customers based on their shopping behaviour.
Of course, regular visitors get those exclusive benefits. You can save a lot of money by taking advantage of those benefits. Mostly, people rely on loans to buy things. You can avoid excessively relying on borrowing to buy stuff. However, if you still need some money, you can take out a loan with no guarantor quickly,
The bottom line
Technology is changing the retail sector. It has made the shopping experience much better and improved. It helps not only customers but also retail companies. This is just the beginning. The impact of technology will be seen at a more rampant level.
