Estimated reading time: 5 minutes
Today’s customers expect an increasingly personalised experience every time they enter a store.
They want to be excited, informed and at the same time be able to quickly find what they’re looking for. With 78 per cent of millennials preferring to spend more money on experiences than products, we’re starting to see retailers adopting emerging technologies to offer exciting in-store experiences that customers are otherwise unable to get online.
Here’s what you can look forward to:
• Facial recognition – By deploying self-service kiosks at restaurants, facial recognition can help regular customers re-order their favourite dishes just through scanning the characteristics of their face.
• Phygital retail – ‘Phygital’ is the bridge between the physical and digital worlds, providing an enhanced experience for customers – such as the convenience of cashier-free shopping or Bluetooth-enabled notifications sent to loyal customers walking past the store.
• Augmented Reality (AR) and Virtual Reality (VR) – Not sure whether that sofa will fit into your living room? Worry no more as AR and VR technology can help you visualise how it would look just by using an app on your smartphone.
• Big Data – The data you share with retailers will allow them to create a personalised experience in-store that is based on your preferences – meaning you receive bespoke ads tailored to your needs and offers based on your consumption patterns.
• Cashier-less shops – based on the same technology used in driverless cars – computer vision, sensor fusion and deep learning – AI-powered technology in shops will allow customers to simply walk into a shop by scanning a mobile app, pick up what they need and walk out without having to queue at checkout.
Retail businesses are calling upon these new technologies to transform the customer experience and offer them something completely different. In fact, we’re already seeing digitally native brands such as Amazon open fully automated stores. These types of stores will become more popular in the future as they offer a convenient and personalised experience that we all value.
Take a look at the infographic below to see what the physical store of the future looks like.
A history of payment cards [Infographic]
The technology behind the payment process [Infographic]