Amidst widespread speculation of a ‘retail apocalypse,’ the incoming data extends contradictory information. Recent surveys confirm that brick-and-mortar retail will be necessary for the industry in the coming years. The dominance of online shopping has been unable to replace the brick and mortar retail.
Brick-and-mortar retailers have to face stiff competition amidst rising consumer demand and user expectations. Retailers are aware of this trend and are willing to leverage and experiment with available technologies.
Covid-19 has had a massive impact on the retail sector. The days of the pandemic have been the underlying reason for the prominence of online shopping. In addition, the comfort of choosing your products from a wide range of options without having to visit the store has been quite tempting for customers.
However, is technology adaptation sufficient? Retailers have been reluctant to incorporate technology into their core features. Or rather, the industry couldn’t be fast-paced about technological upgrades.
However, the expert suggestion is that this is the most appropriate time to invest significantly in technology. Retailers are facing a never-before need to reinvent themselves to stay ahead of the market requirements. In addition, the world is encountering a continuous digital transformation as shoppers are less hands-on and are heavily technology savvy.
Investing in technology is likely to yield dividends. You have a wide range of satisfied customers looking forward to experiencing a similar experience. Further, the team can focus their attention on tasks of more effect than tasks of negligible impact.
Although it is not mandatory to make a sudden move to high-end technologies like advanced robotics, it is certainly inevitable to begin active technology incorporation now. Here is a simple example, a self-checkout option at retail stores will give the shoppers more time to engage customers to enhance their customer experience.