Online buying has changed the way we shop. While the death of brick and mortar is not expected anytime soon, it remains challenging for those physical outlets to compete with the convenience of online shopping.
The good news is that by using the right technologies, it is possible to compete with even the biggest online sellers. As eCommerce continues to threaten the brick and mortar retail sector. It is up to those business managers and their teams to make the most of the tools available.
Here are the technology trends that all retail outlets need to consider in 2021 and beyond.
1. Improved Experiences with Virtual and Augmented Reality
The virtual world is the next big battleground for retailers. Already, big names are adopting the use of virtual environments and augmented reality shopping experiences that allow consumers to try on clothes without getting changed, to sample makeup, or even check how furniture will look in their homes.
As personalization becomes more important to customers, AR and VR are only going to become more valuable. Those brands that do not use virtual reality (VR) and augmented reality (AR) will miss the potential value.
2. The Importance of Cybersecurity
Staying safe online is more important than ever. The retail sector has always been particularly enticing for hackers and cybercriminals. Retail business owners need to ensure that they do all that they can to protect their customers, their staff, and their business.
By strengthening your cyber defenses, you not only make customers more likely to trust your company and divulge their information, but you also have an additional option to highlight in your marketing.
3. Online and Offline Alignment
Physical retail needs to be seamlessly aligned with your eCommerce pages. The merging of the two will be incredibly effective for establishing your brand and improving brand awareness.
The challenge is then making sure that customers have the same seamless experience when they make a payment or a return offline, as they do when they buy online.
If a consumer encounters difficulties with payments, they will often just go somewhere else which means that you have lost a sale. Your point of sale (POS) setup has to be fast and efficient while providing the options to pay that your customers want.
While facial recognition, the Internet of Things, and location-based services are all growing in importance in the retail sector, they are not yet making their presence in the large scale.
The biggest companies in the retail industry are already using these retail technology trends. If you want to keep up with what your competitors are doing and what your customers are looking for then it’s time for you to implement the above-mentioned retail technology trends.