Retail technology continues to evolve at an astonishing pace. With innovation after innovation appearing on the market at mind-numbing speed, retailers and brand manufacturers are faced with the difficult decision of deciding which technologies will have the greatest impact across the enterprise – and on the bottom line – in the year ahead.
What are the top five technologies slated to make the most significant impact over the next year? According to RIS News, the five technologies to watch are:
Technology No. 1: Leveraging Social Media
Thanks to enhancements in social media platforms such as “buy” buttons and analytics tools, merchants are now able to monetize their social media content.
Technology No. 2: The Real-Time Store
As in-store and online shopping experiences converge, a blended, seamless shopping experience is emerging.
Technology No. 3: A Personalized Shopping Experience
Retailers and brand manufacturers are combining customer rewards and loyalty programs while introducing in-store mobile apps for a tailored experience.
Technology No. 4: Smarter Fulfillment (A Kibo favorite!)
Having both a strong physical location and online presence provides a competitive advantage, especially as shoppers continue to expect fast and varied delivery
options.
Technology No. 5: Science-Based Merchandise Planning
With customer engagement emerging as a key strategic challenge, retailers must rethink their merchandise planning systems and processes.
