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In fact, the rise of technology has
literally reshaped how consumers
shop, and has been increasingly critical
to driving innovation, efficiency, and
customer engagement. Whether
buying online and picking up
merchandise in-store or purchasing an
item online while in an actual physical
store, the user experience is much
more seamless, simpler, and interactive
these days. And shopping has not
only become simpler and savvier
through the help of technology, but
the advancements have also helped
retailers become much smarter about
their customers in the process – a real
win-win.
Today’s shopper is much
busier and more impatient.
Thanks to advancements in
technology, they are used
to getting what they want,
when they want it - simply
with the click of a button.
Shopping made simpler…
There’s no doubt about it - technology
makes shopping easier. For one thing, it
helps save time, which is a top priority
for many shoppers. In fact, according
to a recent Forrester retail survey,
shoppers ranked “saving time” as the
number one reason to use in-store
technology.
From in-store robots to digital
payments to omni-channel marketing,
technology is expediting the
shopping process – all while making
the experience more engaging and
interactive. And it’s big business.
According to the International Data
Corporation, the global robotic market
will be worth $135 billion by 2019. Just
last fall, Lowe’s introduced LoweBot,
an autonomous retail service robot
in 11 of its stores. The robot answers
simple questions, enabling more time
for employees to focus on delivering
personalised service. In addition to
helping customers, the robot also
captures real-time data that ultimately
helps influence future business
decisions.
In terms of digital payments, according
to Juniper Research, their value will
approach $3.9 trillion in 2017 – that’s
an increase of more than 14% over last
year’s total. With smartphones in the
hands of both shoppers and retail staff,
the days of waiting in long lines at the
checkout are over. The convenience of
paying with a mobile device without
handling cash or a card, coupled
with a fast transaction time, leads
to an enhanced – and more secure –
customer experience at the point of
sale.
Additionally, more and more retailers
are striving to build a true omni-
channel experience that merges at-
home, in-store, and mobile commerce
into one seamless and frictionless
experience. It’s all about true continuity
of experience – the mobile app should
match the responsive design of the
website, which should thematically
reflect the look and feel inside the
store. And each interaction becomes
a seamless extension of their previous
interaction, enabling customers to use
the channel of their choice for each
Retail Revolution:
Shop Smarter,
Not Harder
DAVID GORELICK
Head of Retail Services,
Americas
DISRUPTION
32 The Occupier Edge