The success of retailers today depends on their ability to integrate ever-changing technology trends and brick and mortar.
Right now, the in-store experience is undergoing a massive evolution. Retailers are embracing this new “normal” and seizing opportunities to reimagine their physical spaces. Crafting unique in-store experiences with the consumer in mind has become more crucial now than ever before.
Autonomous checkouts and augmented shopping serve as two key examples of recreating the in-store experience with tech. Autonomous checkouts, which have been adapted throughout Amazon Go stores, allow the consumer to go to the store and grab what they need without having to physically check out. This has set a new standard for convenience shopping, with many retailers following in pursuit. By 2024, autonomous checkouts are predicted to have payment volumes of over $20 billion.
Augmented shopping uses AI and AR technologies to allow consumers to see products and virtually try them on while in the store. Many retailers incorporate this technique or some version of it throughout their apps. Nike has designed their stores around the use of their app, creating a more personalized buyer’s journey for shoppers. Nike’s store concepts allow shoppers to self-navigate using their app and browse products recommended to them. From this, Nike can capture data to develop an immersive experience that caters to each individual customer.
Creating synergy between online and physical channels has become crucial to survive during these times. Now, it’s up to retailers to take it to the next level by incorporating technology as an evident factor in their physical spaces. Technology is a part of our everyday lives, and for the most part – it makes them easier and more convenient. The in-store experience should do the same.
Source: In-Store Checkout Report – Business Insider, 7 Post-Pandemic Retail Tech Trends
Photo Credit: 7 Post-Pandemic Retail Tech Trends