New retail technologies come and go, but what are the developing trends that will significantly impact the online and in-store shopping journeys?

Digital devices are increasingly intrinsic to our lives. In the future they will listen to us, anticipate our needs and help us unprompted.

Yet, whilst this has made consumers’ lives more efficient and more productive, this digital revolution is a significant challenge to those in the retail industry that are struggling to match the pace of technological innovation.

The smartphone’s success redefined the relationship between consumers and retailers.

The industry is having to constantly develop new business propositions under the premise of ‘mobile-first’ or, increasingly, ‘mobile-only’.

But what are the specific technologies that are likely to impact the industry in the coming years?

Prints charming

One of the smartphone’s most significant hardware developments has been the introduction of fingerprint readers, first introduced in premium models around three years ago.

By the end of 2017, around 40% of all smartphones in developed countries will incorporate a fingerprint reader (compared to 30% in 2016). Of these, 80% of users will use the scanner regularly.

Deloitte predicts that the active base of fingerprint reader-equipped devices will top one billion for the first time in 2017.

On the assumption that each active sensor will be used an average of 30 times a day, it is likely that there are will be more than 10 trillion aggregate presses of fingerprint readers this year, globally.

“The fingerprint can be used to authenticate transactions instantly and supply shipping address data”

Biometric systems are already gaining prominence in the retail space with quicker checkouts and easier payment systems.

The ability to make fast and secure payments using existing fingerprint reading technology, rather than having to download a specific app, will reduce the barriers to entry for consumers and will improve the experience of purchasing goods and services online.

The fingerprint can be used to authenticate transactions instantly and supply shipping address data that is already stored securely on the phone.

In time, in-store retail could look to eradicate the need for PIN codes at the tills.

By the end of the decade we expect fingerprint readers will be as ubiquitous as front-facing cameras on smartphones.

Retailers will have to consider how best to exploit the growing base of fingerprint readers and the large number of individuals who have become accustomed to using them on their phone.

The great indoors

By 2022, at least a quarter of all uses of digital navigation will include an indoor part of a journey, or will be entirely indoors, compared to less than 5% of all uses today.

This technology will become mainstream through significant improvements to the accuracy of indoor navigation through positioning data, improved analytical tools that interpret indoor location datasets in parallel and more high-quality indoor maps.

New indoor mapping will further empower the consumer, enhancing the shopping experience by enabling physical space to compete with online commerce.

”Indoor navigation will likely have as big an impact to our lives as satellite navigation has had in the last few decades”

The technology will reduce the time wasted when shoppers cannot find a particular store within a shopping centre, or a specific product within that store.

Location data can send geographically targeted marketing messages to customers.

Indoor navigation will likely have as big an impact to our lives as satellite navigation has had in the last few decades.

Retailers’ ability to effectively make use of indoor navigation technology will likely succeed in differentiating from their competitors.

Retailers must change how they interact with their consumers, and also increase the speed at which they transform their operations, if they are to compete.