What will 2019 bring to retail market?

What will 2019 bring to retail market?

2019 will bring retail market closer to technology. Despite the fact that consumers still prefer visiting natural stores, e-commerce continues to rise so it is important for stores to keep up and adapt to changes. According to recent research, there are five trends that will characterize retail market during the upcoming year.

  • In store personalization: Retailers start using a wide variety of technological applications in an effort to compete with the convenience and variety of e-stores. Their goal is to create such a unique experience that their customers will prefer their natural shop. For example, they use AI that guides customers to specific products according to their needs or they create informative apps for their mobile phones. Also, a new kind of store starts to emerge where customers can test a new product without necessary buying it. Finally, with facial recognition, it is possible to detect an unhappy customer and its immediate help.
  • Self-Service: Now days there is an increase in the use of credit cards or electronic wallets instead of cash, so customers spend less time waiting in lines. Another example of self-service application is the ability to scan biometric characteristics to avoid natural checking for example when a minor buys alcohol or other age-restricted products.
  • Digital reality: A combination of virtual reality and artificial intelligence can offer a unique experience to customers. Imagine, for example, how convenient is to see directly how your new office will look to your room or even the outfit you want to wear in a formal occasion. Another use can be training employees as it can imitate a wide variety of different situations that can face.
  • Unified commerce: It is necessary for the public the services of one store to reflect the brand’s character. In accordance with their need many companies, offer unified, electronic platforms that include all the necessary information.
  • Hybrid cloud strategy: Using cloud can have many advantages in retail market from cost reduction and easier data access to more flexibility. On the other hand, it requires constant networking and a change in data storage practices. The answer is the use of a hybrid cloud that combines the advantages of the classic model with the existing practice.

In conclusion, 2019 will be the year of technological introduction in retail market targeting to offer a more entertaining, interesting and memorable experience to customers according to their needs.

Polyxeni Karavasilis