During the pandemic, there has been a significant increase in e-commerce. With this, the physical stores of various segments had to reinvent themselves and invest more in technology in retail in order to adapt to the new demands and consumer profile, to remain competitive and achieve market solidity.
It cannot be denied that innovation is currently seen as a very important differential. After all, through the integration of new technologies to the strategic planning of companies, it is possible not only to improve products and services, but also to personalize the service and thus ensure better and better experiences to the consumer.
But what are the most suitable tools for retail? Why is it so important to invest in innovation? How has this impacted the industry as a whole? That’s exactly what we’re going to be talking about in this article. Check!
How has technology revolutionized retail?
Technological advancement has considerably changed the motivation behind a purchase choice. Today, the consumer is increasingly demanding and in search not only of the best price, but of a unique shopping experience
A fact that shows some of this change is precisely in relation to the behavior before purchases. According to the 2nd edition of the “State of search Brazil” study, more than 90% of consumers search before making a purchase.
That is, the number of people who arrive at the POS of a company well informed about a product or service from online sources and who only visits the establishment to validate their choice grows
Therefore, it is important to offer this consumer an objective and striking shopping experience. And for this, nothing better than to seek in technology a great ally. After all, through it it is possible:
- Automate the service and thus offer greater agility to the customer
- Introduce digital resources at the POS to interact with the prospect using multiple channels;
- Measure consumer intentions and use this data to improve your marketing strategies, among other possibilities.
Not investing in technology in retail means losing space in the market
Undoubtedly, technological innovations have come to revolutionize the retail industry. And companies that have not adapted well to this change have been negatively affected.
We can cite as an example Compaq, which was born to compete with IBM. However, as early as the 90s there was a reduction in investments in laptops, and it ended up falling behind brands such as Dell and HP.
Another company that left the scene for lack of investment in technology was Nokia. Considered one of the pioneering big techs and one of the largest manufacturers of mobile devices, it was not innovative enough to adapt to the arrival of smartphones and, with this, ended up losing space in the market. In 2013, Nokia was eventually sold to Microsoft
It’s worth noting that it’s not just the giants that ended up falling behind. According to a survey conducted by SEBRAE in conjunction with FGV, almost 30% of Brazilian small businesses still do not sell through digital means and, therefore, are liable to suffer the same consequences.
5 Retail Technology Tools You Need to Know
That emerging innovations contribute to creating high-converting retail experiences, there’s no doubt about that. But what tools to invest in? Below we separate 5 that we consider indispensable, check it out!
1 Automation tools
These technologies can take over, through automation, tasks enabling actions such as self-service, remarketing, retargeting, and even security, bringing more agility, productivity and profits to the business.
This is the case, for example, of the tools for reading products by barcode or RFID, which generate a gain in time, more economy and flexibility in various sectors. The same goes for ERP management systems, self-service totems among many others.
2 – Omnichannel
In the Digital Age, being present in multiple channels means expanding your sales possibilities. That’s why it’s important to find features that make it possible to reach your customers on more than one platform.
Omnichannel is the technology in retail that offers this possibility. Through it, you guarantee an excellent shopping experience, using distinct but integrated service and sales channels, such as social networks, whatsapp, phone, chats, among others.
3 -New payment formats
Until a few decades ago, cash or card payment was the most widely used forms in stores and other establishments. But today the scenario is quite different.
According to the Central Bank, in 2021 there was a drop of more than 10% in the circulation of cash. The PIX has been used in more than a billion transactions.
And every year, new forms of payment emerge, such as payments via approximation, QR Codes and even systems such as payment via Whatsapp.
So, if your goal is to adapt the business to the new trends to meet the current demands of the retail sector, you will need to diversify your means of payment, adhering to new digital solutions.
4 – Use of Internet of Things
Imagine being able to offer an exclusive promotion to customers who enter your store and who have already had your app downloaded on their phone?
With the Internet of Things (IoT) this possibility exists, since sensors and geolocation technologies can do this work, thus contributing to attract more customers to physical stores.
5 – Big Data
With the advancement of technology in retail, an avalanche of data has also become available to companies. And using this information to define who your consumer is and what they want is also essential to survive in this new era.
Today it is already possible to measure customer behavior in an easy way, and use this in favor of your business.
So, did you like to know the technology tools in retail? Now just implement them in your business to optimize the routine, capture more customers and generate many sales!
