Retailers have always benefited from leveraging the latest technological developments to better serve their customers and improve their behind-the-scenes operations. That’s why, if you work in this industry, it’s important to follow the latest relevant tech trends and – in some cases – work with qualified retail app developers that can leverage these trends for your success. You can only take advantage of new technologies if you know they exist.
The following are a few specific trends you should pay attention to as we move through 2020. There’s a good chance your company can benefit from such developments and innovations as:
Artificial intelligence has many potential applications in retail. For example, surveys indicate consumers are much more likely to make purchases from retailers that offer personalized experiences. With that in mind, a retail business owner could create an AI-equipped app that monitors individual user behavior. The app would keep track of their tastes to make product suggestions that align more closely with their preferences.
Some retailers have used AI in more creative ways. Consider the example of Sephora. Thanks to machine learning innovations, Sephora is able to offer customers an AI product that scans the color of their skin, suggesting shades of makeup based on the results. Olay has used AI in a similar capacity with a tool that identifies the areas of a customer’s skin that could benefit from using one of the brand’s products.
It’s also worth noting that retailers can also benefit from using AI in their supply chains. An example of this might be a retailer using AI to assess various shipping routes. In this instance AI would be able to efficiently and accurately analyze all relevant data to determine which routes are most efficient.
It’s always important for retailers to consider shifting consumer attitudes when determining how to use new technologies. For example, surveys indicate the majority of younger consumers now prefer to support brands that prioritize sustainability.
Luckily, technology can once again help retailers make the right impression on those consumers. Along with determining which shipping routes will result in the speediest deliveries, AI can also determine which routes require using the least amount of resources. A retailer that leverages AI in this capacity might advertise the fact to consumers.
Merging Two Worlds
As new technologies continue to develop, the space between the brick-and-mortar retail experience and the digital retail experience will also continue to shrink.
For instance, while retail apps offer convenience, they don’t always offer the human touch that someone might experience when consulting with a sales representative at an actual physical store. However, retailers could theoretically allow consumers using their apps to speak with human representatives through video chat functions. They could also create virtual experiences that mimic the feeling of browsing items at a brick-and-mortar store.
These are all trends retailers need to keep an eye on as we continue to roll through 2020. The retail industry is always changing. Companies that leverage innovations accordingly are more likely to consistently survive these changes
Rae Steinbach is a graduate of Tufts University with a combined International Relations and Chinese degree. After spending time living and working abroad in China, she returned to NYC to pursue her career and continue curating quality content. Rae is passionate about travel, food, and writing (of course).