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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 personalized 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 step along the
journey, simplifying the entire process.
Retail Revolution:
Shop Smarter,
Not Harder
DAVID GORELICK
Head of Retail Services,
Americas
DISRUPTION
32 The Occupier Edge