Technologies to focus on for developing a smart store
The pandemic has accelerated the process of digitalization of the retail industry, giving birth to smart stores, also called “smart retail”. This concept refers to the process by which a retailer transforms the physical customer journey by including digital tools, connectivity, and interaction between the physical and digital point of sale, intending to offer an enhanced and personalized experience.
So, with the rise of these smart stores, retailers are then asking themselves: which technologies have the potential to be truly transformative and where should they invest?
As mentioned in the Canadian Grocer article, there are many technologies on the market that can optimize in-store operations. However, knowing that the pandemic has had a significant impact on consumer behavior and expectations in terms of the shopping experience, it is essential to prioritize certain technologies over others.
In fact, as one of the advisors states in the article: “From my perspective, a big part of the smart store evolution happened due to the change in consumer behaviours, and that was largely accelerated through the pandemic. But if you look at it, consumers, by nature, what do we want? We want convenience, we want speed. We want localization and personalization,”.
To this, he adds the need for retailers to invest in “digital wayfinding,” which aims to speed up the shopping journey and therefore prioritize digital technologies such as electronic shelf labels (ESL), which he believes can meet many of the needs of consumers and operational managers.
In fact, by installing this digital solution proposed by Pricer, coupled with its multiple functionalities (Click & Collect, Geolocation, Put-to-light, Shelf Vision), retailers can now offer a range of optimized services to their buyers that will revolutionize their shopping experience.
Many experts advise retailers to get ahead of the curve and adapt to new consumer expectations by investing in new retail technologies. This will allow them to offer their shoppers an enhanced and personalized experience.