
Reinforcing the Retail Space Priorities
CIO Review APAC | Monday, April 10, 2023

With digitisation dominating the retail space, staying on track with breakthrough innovations in the retail space is highly crucial.
FREMONT, CA: The aftereffects of the pandemic scenario have instigated varied transitions into integrated sectors, and the retail industry is no exception. As a result, unlike in pre-pandemic times, the domain has emerged as a digitisation-involved space. However, attaining an increased efficiency and success rate in the adoption process requires distinct procedures, as the industry may often encounter varied hindrances.
One such critical element is consumer behaviour which has greatly evolved with the advent of COVID-19. For example, the definite closure of brick-and-mortar stores has elevated online shopping from a mere convenience to ingrained consumer behaviour across a wide range of demographics. Wherein, customer demand has expanded accordingly, inconsiderate of the pertaining supply chain issues. That is, when their demands are not met, consumers rely on retailers who may be able to meet their needs in the desired time frame. Furthermore, the power of control has evolved from retailer to consumer, especially with the easy access to information and opportunities that people have discovered in online manufacturing.
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However, regardless of the lifting of pandemic restrictions, people are heavily reliant on research-driven purchases and online shopping in the current scenario, necessitating the adoption of this enhanced digital procedure. That is, retailers, on a full-fledged scale, are reaching out to consumers via stores, websites, and social media channels with consistent and efficient shopping experiences and seamless pickup, delivery, and return experiences accordingly.
Along with this, reducing friction in a retail purchase favours adapting to digitised shopping processes. It aids in addressing customer concerns in real-time via proven instant access to information for shoppers and salespeople. Purchasers often expect and rely on a particular retailer, owing to the customer service they provide, via measures like issuing employees connected devices like smartphones or tablets located throughout the store.
Innovative checkout experiences have been introduced in retail stores in recent times, unlike the old and traditional patterns where the shopper approaches the cashier for the billing process. One such advanced approach is touchless checkout technology, where a customer chooses their payment method via their smartphone with their customised shopping cart. The advancement, which connects with artificial intelligence (AI) in the cloud, aims to eliminate physical and long queue payment methods, promoting enhanced customer convenience.
Meanwhile, retailers must recognise the critical need to accelerate frontline worker experience to provide a better customer experience. As a result, equipping salespeople with induced technology to ensure consumer convenience is critical to increasing profitability in brick-and-mortar stores.
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