Future Technologies: Retail 2022
Going into 2022, the global pandemic has brought massive changes to the retail market. The pandemic caused many populations to stay indoors and work from home. The isolation of mass populations decreased footfall into physical stores to zero. The drastic changes had seen customers resort to online retailers such as Amazon to fulfil their needs. The retail market disruption opens the sector to innovation in both physical and digital storefronts.
Cashier-Less Shopping
Pioneered by Amazon with their launch of Amazon Go cashier-less stores in 2018. These stores use cameras and sensors to track shoppers' activities as they remove items from the shelf to their bags. When the shopper works out the store about their payment method is charged automatically. The cashier-less shopping experience will mean customers will no longer need to wait in a long line or have cashiers touch any customer’s products.
In-Store Customer Analytics
Understanding your customers’ behaviours such as the number of visits per time of day, the volume of new and returning customers, and how different advertisements affect customer buying habits. Analytics gathered about customers can allow retailers to make more informed decisions and create a more intuitive in-store shopping experience.
Two-Way QR Codes
The use of QR codes has been big in East Asia as a way to purchase goods. During the pandemic, QR codes have started to become important for businesses to send information to customers. Rather than just simply scanning a QR code to receive standard information, two-way QR codes patented by ContactPigeon offer information to go to the business as well. Personalised product recommendations or content can be surfaced upon scanning the QR code.
Virtual Fitting Rooms
With a significant increase in online shopping, apparel companies can create virtual fittings rooms for granting customers the ability to try on the clothing before purchasing in the comfort of their own homes. The function of virtual fitting rooms will help retailers decrease the return rate from online purchases.
Autonomous Delivery
As artificial intelligence improves, autonomous vehicles improve as well. Companies such as Amazon, Uber, and Grubhub have been developing autonomous delivery vehicles such as drones. Autonomous delivery vehicles can speed up delivery times without having to employ more people to achieve this. Autonomous delivery will enable businesses to operate 24 hours 7 days a week providing businesses with more efficient services therefore more revenue.
On-Demand Manufacturing
The problem with mass-producing products is the number of unused products in warehouses and waste that is produced. The availability of 3D printers to consumers allows businesses to send CAD designs for components for a fee and customers can print components or products at home. This will mean that only the needed components are produced, decreasing the amount of waste produced in traditional manufacturing.