Innovations such as beacon-equipped mannequins and Apple Pay show that in-store technology is a rapidly evolving part of the retail sector. 

In-store technology.

As retail technology continues to develop, are retailers taking full advantage of the rewards that it can offer?

“As consumers become more demanding and their shopping habits evolve, retailers should look more closely at how technology can better support their business,” says Ben Pring, co-director of Cognizant’s centre for the future of work.

“Disruptive digital technologies, such as social, mobile, analytics and cloud technology as well as sensors, are already becoming mainstream.”

It can be difficult to know which technologies to invest in but retailers should remember that digital development can have a significant impact on a business’ bottom line.

By offering customers ways to keep them engaged and encouraging purchasing loyalty, retailers can improve their in-store experience whilst simultaneously obtain valuable data and customer insights.

“The right digital experience can reveal what retail customers are interested in, what products they like and even predict future preferences,” says Pring.

“By tapping into this data and analysing it, companies can understand their customers better, react faster when needed and anticipate new requirements to drive future growth strategies, both in-store and online.”

For retailers, increased consumer confidence and the opportunity to drive profits through innovation are increasingly linked. With this in mind, ensuring customers have a high-quality digital experience in-store as well as online could make the difference between remaining competitive and being left behind.