Exclusive 2018 Retail Technology Predictions
Which technology trend will impact the retail industry most significantly in 2018 (and why)?
Haowen Chan, Kibo’s Director of Data Science and Data Architecture, discusses how data science and big data are changing the retail space in this exclusive 2018 retail technology preview from Retail Touchpoints.
Retailers face a data integration challenge when they have multiple systems with no integration between them – manifesting in data silos. The solution is a single core system that collects all appropriate data from various subsystems, and then deriving the maximum value from this data through personalization and product recommendations.
“The holy grail here is for brands to use technology to directly integrate into the lives of individuals in a positive way, so that the retailer or brand is almost like a partner in your life helping achieve your goals.”
Other insights from executives who have shared their predictions on what to expect from new retail technologies and trends in the coming year, include topics such as:
- The ‘Holy Trinity’ of 2018 Retail Technology
- Going ‘Phygital’ Is Key to Retail Success in 2018
- Total Store Optimization Puts the Shopper First
- Transforming Retail with Cryptocurrencies