You should now be all set. Have any questions, feedback or suggested improvements on the approach? Please leave a comment, I’d love to hear what you think!
New Technologies to Reshape the Retail Industry
This article educates the user about the new technological transformations that are about to take place in the industry. Also, it lists the four most probable technologies that will be a part of the retail sector in the current year.
Retail industry was expected to receive the biggest transformation ever in the year 2016, but industry was surprised to avail much more than assumed. The introduction of chat bots giving birth to conversation commerce was the biggest highlight of the last year. With this update, interaction with customer has improved a lot. The retail industry also saw some other dynamic changes in 2K16, like – advanced artificial intelligence, multi-channel retailing, a lot more secured interface etc.
Now, the year is 2017 and the retail industry is already on its toes to welcome some ‘woo-worth’ technologies. According to the market expert – adoption of new technologies is the only key to serve the ever-increasing customer base with perfection in this technology-oriented world. Nowadays, customer want to have easy solution. They just not love to waste their time and energy on the things related to daily course. Retail industry cater day-to-day needs of the customer and hence, fall in the said category. Therefore, it is quite essential for the industry to keep making space for new technologies while dropping off the old ones.
Among the number of technologies that are all set to boost the retail industry, these four are the most notable ones:
Have you ever thought of receiving your pizza order from a drone? No! Then get habitual to it because all the preliminary tests have been done to launch the drone delivery system into the retail industry. However, it was scheduled to be made an entry the last year itself, but due to some technical heck, it got postponed.
The drone delivery will ensure quick delivery of the project without worrying about the on-road traffic. Some big retail hubs, like – amazon has already delivered a few products through drone. In this year, we may see several e-Commerce giants choosing the drone to deliver the product.
Including it in the list may not seem fair to you as the same have been used since many years in the retail sector. However, if you are thinking so, you are taking it all wrong. The robotic technologies in this year will see a complete transformation and the self-help robots can be seen in the store ready to assist you.
These robots will be programmed so widely and in detail that they would be able to perform the tasks better than humans. Quite a few stores have already placed the robots in various departments and they are receiving positive result.
You have experienced the minor version of virtual assistant as Siri and Cortana in iPhone and Windows phone, respectively. Now, get set the larger version of virtual assistant in the retail segment. Yes, a lot many stores have already installed Amazon Echo in their stores and have integrated it with the key technical infrastructure.
With this, the customers do not need to wait for sales person, customer executive or ground staff to respond as all the queries will be handled and solved by the virtual assistant. From managing inventory to receiving the payments, these virtual assistants will be doing ever possible thing.
The biggest fear of the retail industry is ever-increasing fraud and hacks in payment gateway system. A lot many things have been tried in the past to reduce the level of frauds but the same provide safety for a limited time until the online hackers decodes them. But, now highly technical tools will be available to secure the payment gateway and data centers.
These ant-fraud tools will form a web like structure making it impossible for the hackers to hack the same or even if hackers clears a few circles, the complete system would be re-established and hence, it won’t be ever possible for the fraudulent people to crack it.
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