With the online retailing industry moving forward in eaps and bounds, it’s not surprising consumers are increasingly seeking more innovative ways to shop and connect with businesses.
And in this fast-paced, technology reliant world, brick and mortar stores are beginning to look a little static and stale.
However, progress in physical retail space is being made, as slowly but surely technology is adopted in stores and shopping centres around the world.
This creeping takeover will begin to make a massive difference to how consumers interact with brick and mortar retailers in Australia and around the world over the next decade, according to news and research provider, InsideRetail.
There are three clear areas where InsideRetail has forecast technology will change retail strategy and consumption over the next ten years.
Personalising the shopping experience
By embracing the world of Big Data, organisations can harness the wealth of information available to personalise shopper technologies and marketing.
Big Data is the process of taking huge amounts of online data and transforming it into tangible and important details. Consumers and retailers can then access this information and each learn about the other side of the shopping partnership.
Other high-tech personalisation tools leading this retail trend are geofencing, variable pricing and personal shopper technologies.
Reduction of deterrents
There are number of reasons why people are turning away from physical retail stores and heading online.
It is therefore crucial for retailers to adopt the technology that could potentially reduce these factors to make shopping in store a more simple and convenient choice.
Technologies currently being developed for release within the decade include parking spot finder applications, instore item locators and shopping centre navigation options – such as google maps heading indoors.
Ease of use
Perhaps the most influential factor encouraging consumers online is the ease of use.
Fortunately, retailers trying to tempt consumers back into their brick and mortar stores will benefit from technology trends improving the speed and efficiency of physical transactions.
This idea has already begun to make a difference with the introduction of payment techniques such as the contactless Visa Paywave and MasterCard PayPass systems.