The technology needs in retail for 2023 might be the clearest we have ever experienced. Over the past five years, retailers of all sizes have had opportunities to achieve detailed insights into their customers’ experiences and engagement with their brand, as well as how to use that engagement to drive profit. As a retailer, your understanding of customer behavior through multiple omnichannel touchpoints has helped identify the path to growth. 2023 needs to be a year of focus on those technologies required to embrace the customer’s desired experience.
The cool thing about 2023 technologies in retail is that almost everything you do for a customer will have a positive impact on your employees. Staffing and employee satisfaction are a struggle for every retailer. This will not change in 2023 unless you allow technology to augment your workforce. Unlike years past, your employees are openly embracing technology. The employee count will never be what it once was, but the quality can be better than ever.
What are the technologies that enhance both customer experience and employee productivity? Let’s explore three key areas that will make a big impact in the coming year.
Smart Store Technologies
You’re likely already familiar with smart home technologies—everything from security cameras and thermostats to kitchen appliances—and maybe you even have a few of these smart devices to help make your home life more convenient. These same technologies are available to elevate your business—from IoT devices to AI and edge computing. By implementing smart store technologies, you can not only truly “wow” your customers, but also improve the productivity of your team members. Cameras powered by AI can help display targeted marketing based on who is currently in the store. A device can not only scan for empty shelves and create a pick list—it can also suggest alternatives for those items that are no longer available. The possibilities for smart store technologies are limitless—and they’re critical to improving the in-store experience for both customers and employees.
POS and Payment Solutions
Consumers expect to have multiple payment options, including tap and mobile pay, yet the majority of POS systems currently in use are not capable of accepting mobile payments or tap to pay.
While the two likely reasons are cost and POS system age, retailers should not be shortsighted. Any POS or payment device more than five years old is considered a dinosaur. The omnichannel integration that your customers desire cannot function in legacy systems.
Many younger customers don’t even carry a credit card and are hesitant to insert it into a card reader because of security concerns. Even if your current POS and payment systems still function, investing in updated models that offer secure payment options will bring you and your customers added convenience and peace of mind.
Digital Signage and Marketing
Customers want a very personalized experience, and that includes the digital displays they encounter in your store. Today’s marketing teams are focused on dynamic engagement with customers. You can create a solution consisting of smart technologies, content management systems, and displays to deliver personalized, targeted messaging to each type of shopper you might find in your store. When your customer feels that you’re speaking directly to them—that kind of engagement can deliver amazing results.
Where Do You Start?
There’s no time like the present to begin building your retail transformation blueprint. Matching your solutions to your organization’s unique challenges is the key to optimizing resources and transforming experiences for customers and employees alike. You do not have time or resources to waste. I recommend taking a partner such as Connection that can bridge the gap between your business, ISV providers, and technology partners. Engage our Retail Practice today to get started!
Listen to our retail podcast featuring NVIDIA and LenovoThis episode of TechSperience explores how AI solutions – a combination of data management, connectivity, edge computing devices, and software – can create powerful results for retailers.