Advanced Retail

Overview

The retail industry has experienced significant shifts, driven by the rise of e-commerce and changing consumer behaviours. Traditional brick-and-mortar stores now serve as brand representatives, communicating a brand’s identity and values to passing shoppers. Beyond product displays, these stores support ecommerce distribution and bolster brand image.  Emerging technologies further enhance the consumer journey creating a seamless experience from discovery to purchase.

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Awareness

-Wayfinding technologies:

Wayfinding technologies act as key component of wayfinding, searching and navigation stages of the consumer journey, especially in shopping centres. Traditionally signage, wayfinding tech has evolved into more interactive experiences. In shopping centres mobile apps assist searching and navigation through directions, some layering augmented reality over their system so that users can get directions though their camera with “floating arrows” and virtual signage. Touch displays have improved where users can search by types of experience or be provided recommendations from captured data such as weather. The upside of wayfinding tech is increased awareness, an industry survey revealed 76% of US shoppers have entered US store they haven't heard of because of digital signage.

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Consideration

-Personalised experiences:

AI chatbots & internet of things (IOT) tech is allowing retail stores to personalise the shopping experience for consumers to improve the likelihood of purchase. AI chatbots interact with customers providing recommendations from discussed needs and in assisting locating items in store. IOT enables data capture so that things like footfall and traffic, timings and browsing habits can be fed into customer management and servicing through recommendations, deals and offers.

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-Virtual Try Ons:

Virtual reality (VR) and Augmented reality (AR) are augmenting the consumer journey through the virtual try on use case. Virtual try on’s use VR or AR to layer a virtual model of an item into a real space, whether it be trying on a jacket virtually, what a couch looks like in your living room or how sunglasses fit your face. Virtual try on’s benefit from increased engagement from consumers, while users benefit from not having to spend time in a changing room. In addition, we have seen the growth of haptic technologies, in particular ultrasound which presents an exciting opportunity to potentially allow customers to feel the virtual products.

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Post purchase services & engagement

-Click & collect technology:

Click and collect technologies support a retail brands ecommerce logistics, providing a more affordable option for shoppers to receive their items purchased online. While the norm of regular storefront staff service click and collect needs still stands, we have seen an increase in automated tech that handles customer collection. Zara in Madrid has implemented a click and collect robot that automates in store pick ups. Because of automation, there has been a rise of unmanned kiosks in unconventional storefront spaces.

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Conclusion

In the competitive world of retail, storefronts act as a key differentiator for brands. Traditionally many retails storefront enhancements are aesthetic, though emerging technologies are enabling store owners to make functional enhancements to their retail space to improve the consumer journey.

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