Smart Retail Tech Can Help Revive Brick and Mortar Shops
As eCommerce continues to rise, more brick and mortar shops close down everyday. Internet marketplaces such as Amazon are widely popular while department stores and malls seem to become more empty. In order for stores to survive the retail apocalypse, automated technology such as robots and cameras can be utilized to their advantage.
This technology could exponentially enhance the shopping experience which is what will keep more consumers in stores and away from their phones or computers. According to mytotalretail.com, “46 percent of consumers would be willing to switch their purchase from an e-commerce site to a brick-and-mortar retailer with automation technology, and 66 percent believing such technology would solve the problem of long checkout lines”. While the majority of consumers agree less checkout lines would keep them shopping in stores, only 40% of retailers believe automated technology is a priority.
Shifting the retail systems in place would be beneficial to both the business and consumer’s end. Smart cameras have the ability to make stores cashier member free, minimizing human contact. In order for this to be successful, smart cameras must be equipped with cameras that can capture data in real time while maintaining the highest level of security. In-store robots will also play a crucial role in the future of retail. Whether these robots will be used for housekeeping or inventory purposes, ABI Research forecasts that there will be more than 150,000 robots in brick-and-mortar retail stores by 2025.
With the retail industry undergoing a vast number of changes, brick and mortar must think strategically about technology in response to consumer needs. Learn more at the Smart Retail Tech Expo at the Las Vegas Convention Center - September 1st & 2nd. Register for free tickets today!