Smart Retail Tech Exhibition and Conference, 8th & 9th May 2024 exists to revolutionize the USA retail industry. Тренды – прогнозы на 2024 год. 1. Маркетплейсы, как виртуальные фабрики или глобальный арбитр распределения ресурсов. 2. Революция беспилотных транспортных средств в ритейле. Ирина Ратина, Retail TECH Net, CEO. Для участников питчинг-сессии, членов жюри, партнеров и гостей Конкурса на площадке будет организовано многофункциональное рабочее пространство. Все о последних IT тенденциях в ритейле. Какие цифровые решения определят вектор развития большинства компаний в ритейле в наступившем 2024 году. Staying ahead of the curve with retail technology in 2024 will be essential for eCommerce brands and retailers that want to thrive in the hyper-competitive online market.
Retail Technology Trends Expected in 2024
Get ahead of the Retail Industry curve with in-depth look at the 2024 Retail Technology Trends Revolutionizing the Future of Retail and Customer Experience. Владелец сайта предпочёл скрыть описание страницы. Discover the Top 8 Retail Industry Trends plus 20 Top Startups in the field & learn how their innovation impacts your business in 2024!
The Top 9 Technology Retail Trends of 2024
XR Xperience With Augmented Reality and Virtual Reality having played the largest part in the shift to online only retail throughout the lockdown period, now is the time for AR and VR providers to be showcasing their solutions to the retail sector. Contact us now...
Additionally, the shift to online shopping accelerated during the economic downturn, further impacting brick-and-mortar stores. Many retailers were forced to close stores and reduce staff as a result. The shift to online shopping has also increased competition, making it difficult for retailers to attract customers and drive sales. The increased demand for certain products, such as personal protective equipment PPE and home office equipment, put additional strain on the supply chain. As more people stayed home, a lot of shopping moved online. This led to stockouts and higher prices for many retailers, resulting in lost sales and customer dissatisfaction. Furthermore, the supply chain disruptions made it difficult to plan and forecast inventory. Many retailers scrambled to find new suppliers and navigate changing logistics and tariffs, adding to the uncertainty.
New Trends in Retail Mobile Technology As we move into the new year, there are a few emerging trends in mobile technology in the retail space. Increasing functionality available to users Optimizing and improving end-user experience AI supporting end users Communication tools Increased Mobile Functionality Available to Users With the rise of trends such as BOPIS buy online, pick up in-store and contact-free shopping, many customers have changed how they shop. These trends that began during the pandemic have become the new normal, and businesses have learned how to adapt using Shared Devices. Shared Android devices and applications can help retail employees do their jobs by providing them with tools and information that allow them to better serve customers, process transactions, and manage store operations. How Mobile Devices Improve the Retail Experience Applications: Creating and using applications specific to the needs of a unique work environment is a helpful way to streamline employee productivity. Retailers can build applications in-house or outsource third-party developers to curate applications that integrate perfectly into their environment. Point of Sale POS systems: allow employees to process transactions quickly and accurately and provide access to customer information and purchase history. Inventory management: Applications can help employees track and manage store inventory, making it easier to restock items and track sales trends. Customer relationship management CRM : These tools allow employees to access and update customer information and help them provide personalized service and support. Organizations should be cautious as regulations around data collection are constantly changing.
Be vigilant about where data is stored and how it is used. Communication and collaboration: Shared Android devices and applications can help employees stay connected and with management, enabling them to share information and work together more effectively. Tracking Analytics: Certain MDMs and Identity providers allow retailers to track, download, and access device use analytics such as login data, activity, and location. These are valuable tools when gauging how devices are used in the field and how devices can better assist end-users. However, organizations must be cautious of local, state, and federal privacy laws. Organizations must move carefully when using sensitive data. Optimizing and Improving the Mobile Experience for Retail Associates Mobile technology innovations drive how retailers improve the employee and customer experience. In a world of endless customization, associates want to feel comfortable with the devices they use at work. A barrier can form between a user and their device experience when the UI is not accessible, appealing, or helpful. Working with skilled designers to curate a quality UX for your end-users is crucial to finding success with shared workforce devices.
Implementing Voice Technology: Communication is the foundation upon which a successful retail business is built.
According to www. Further entrenching the competitiveness of it all, McKinsey reported that omnichannel customers spend 1. The shift is not merely operational but cultural, requiring continuous learning and adaptability in the face of change. Looking ahead in terms of physical stores, new technologies will shape the store of the future. As detailed by www.
Параллельно в несколько потоков проходят лекции, семинары, практикумы, круглые столы для представителей отрасли. Мероприятия платформы объединила одна тема — цифровая трансформация ритейла и внедрение инноваций. В Форуме принимали участие ритейлеры, торговые центры, e-commerce платформы, производители товаров, логистические компании, автодилеры и автозаводы. Участие в мероприятии было открыто для представителей смежных отраслей.
Retail tech: what to expect in 2024
Stay ahead in the retail landscape with the top technology trends. Explore innovations that will revolutionize shopping experiences and drive business growth. Accenture details how retail technology will adapt to shopping in the metaverse and other virtual retailing and retail technology trends. Read more. Find out the top 9 retail technology trends of 2021 and how these technologies will help you run a more efficient and profitable business.
Ритейл в цифрах: технологии, бюджеты и прогнозы до 2024 года
Each year it takes place in Minsk to focus on the actual trends of food industry. The novelties of the next edition Bar-sector will be presented by international contest-tasting of wines and liqueur-and-vodka products and well known in the professional sphere exhibition Beer. Such approach and selection of the most essential accents of hospitality industry will allow to form correctly the target groups of visitors, present effective business-solutions for each direction. Reasons to visit HoReCa The most actual novelties are demonstrated here: innovations in equipment for objects of catering new trends in the manufacture of kitchen and confectionery equipment novelties of crockery and glass from leading manufacturers, ideas for table appointments the best trends of food: master-classes from leading experts for restaurant, confectionery, bakery and meat industries coffee solutions for preparing hot and cold drinks Directions of development of bar business, current trends in the field of mixology - new and traditional tastes business solutions to improve the efficiency of objects of trade modern approaches to provide exploitation and functioning of hotel complexes This is an important area for business development: Visitors have an unique opportunity to plunge into the world of modern technologies of hospitality industry.
Retailers use AI for various applications. In C2M, AI will have a more intimate view of the user and what they need more than the users themselves know. It will be in charge of a secure network that uses analytic tools, behavioral databases, algorithms, and image recognition. Too dystopian? No worries—it will have a ton of regulations to limit the type and amount of data it can harvest. It will likely also need consent from the user.
AI is also at the forefront of a C2M business model Medium, 2019. Voice search and personal assistants The discussion of AI naturally dovetails with voice search and personal assistants. In the US alone, adult ownership of smart speakers and smart homes has reached 55. Even the figures today are eye-opening. Key takeaways In the US, adult ownership of smart speakers and smart homes has reached 55. With this, companies can say goodbye to complicated spreadsheets. Tableau is a popular system that makes it easier for organizations to understand their data with interactive visualizations. It has online, on-premise, and server-based deployments for you to integrate data in every aspect of your business. SAP Crystal Reports accelerates the generation of reports, as it integrates with databases for faster data processing.
Aside from that, it helps users discover new relationships between data. Microsoft Power BI is a solution that was originally intended to be a plugin for the Microsoft suite of products. It has since evolved into a full-featured business intelligence software. Hotjar is a cloud-based application that enables you to understand your audience better by tracking their activities on your website. On top of that, it helps gather and analyze customer feedback. This is why social media giants are now testing ways to load payment information into the platform itself. In the coming years, social networks will now not only be places to discuss and keep up to date with your friends but for retailers to keep in touch with their user base. Adding a native payment system will expedite this process. Key takeaways Instagram is one of the first social media networks to experiment with a native payment system TechCrunch.
As already mentioned, consumers no longer distinguish between online and offline shopping. They may start shopping in one and checkout in either. In the last few years, retailers have capitalized on this phenomenon by offering agile solutions for both online and physical retail.
Retailers are adopting advanced inventory management technologies to track inventory in real time. This not only prevents overstock, but also enables features such as "buy online, pick up in store" BOPIS , providing shoppers with flexibility and convenience. Your inventory management system should allow for visibility and efficient distribution across all sales channels" Helen Kom, Product Director at LEAFIO AI Improving customer engagement with mobile technology Mobile devices serve as the backbone of the omnichannel shopping experience, offering shoppers a portal to a seamless retail experience. Mobile apps, responsive websites, and innovative features such as mobile payments and augmented reality are increasing customer engagement. Retailers are increasingly investing in mobile-first strategies, recognizing the key role smartphones play in shaping modern shopping behavior. It should be noted that omnichannel shopping is one of the major technology trends in retail that is shaping the future of the industry. The importance of this technology was undoubtedly confirmed during the pandemic.
Only those retailers who diversify their sales channels can expect sustainability in the competitive retail environment. Using advanced analytics and machine learning algorithms, retailers can analyze large amounts of data to make accurate predictions about consumer behavior, retail industry trends, and product demand. Demand forecasting Retailers use predictive analytics to forecast customer demand for goods and services. By analyzing historical sales data, seasonality, and external factors such as economic conditions or marketing promotions, retailers can optimize inventory levels, reduce stock levels, and minimize overstock situations. Inventory management Predictive analytics plays a critical role in optimizing inventory levels. Retailers can predict which items will sell well, identify slow-selling items and adjust their inventory accordingly. This helps reduce inventory costs and minimize the risk of out-of-stocks. Price optimization Retailers can use predictive analytics to determine optimal pricing strategies. By analyzing competitor pricing, elasticity of demand, and other market factors, retailers can set prices that maximize revenue and profit while remaining competitive Supply chain optimization Predictive analytics helps optimize the supply chain by identifying potential disruptions and optimizing logistics. This ensures that goods are available when and where they are needed, minimizing delays and improving overall efficiency.
Fraud detection Retailers use predictive analytics to detect and prevent fraudulent activity. By analyzing transaction patterns and identifying anomalies, retailers can flag potentially fraudulent transactions in real time, protecting both the business and customers. Predicting сustomer lifetime value CLV Predictive algorithms help retailers assess the potential value of a customer throughout their relationship with a company. This information is valuable for tailoring marketing efforts, understanding the long-term impact of customer acquisition strategies, and prioritizing customer service initiatives. Implementing predictive analytics in retail requires a combination of advanced analytical tools, data integration, and skilled data analysts. As technology advances, retailers are increasingly utilizing these strategies to gain a competitive advantage in the dynamic and rapidly changing retail landscape.
Stitch Fix, an online personal styling service, offers a model of personalization in action.
In the future, retail will be increasingly shaped by advanced technologies and digitalization. The significance of digitalization for the retail industry cannot be emphasized enough. IDC explains it this way : "Retailers are not investing in small step changes to their portfolios—they are digitally transforming and investing in the massive scale and speed of digital, cloud-based, connected, AI-driven, and sensor-driven automation. We are in the middle of a customer-led, technology-enabled revolution in retail. Opportunities for AR and VR in Retail Other game-changing technologies include augmented reality AR and virtual reality VR , which can transform the way consumers interact with products and make purchasing decisions. Retailers are utilizing these immersive technologies to enhance the shopping experience by allowing customers to virtually try on clothing, visualize furniture in their homes, or experience products in a virtual environment. Analysts do not expect the AR and VR retail market to slow down anytime soon.
The Tech Trends That Will Shape The Future of the Retail Sector
Mike Smollan of Smollan gives a high level of how tech partnered and reshaped the retail industry last year and where we are headed in 2024. The top five trends to watch in 2024 will explore technologies and opportunities that will continue to transform the retail industry. HoReCa. Retail Tech 2024. Roofed Soccer Arena, Prospekte Pobeditelei 111 Minsk (BY). Connecting retail’s change-makers, the Retail Technology Show brings together Europe’s most forward-thinking retailers and leading tech innovators. At NRF 2024: Retail’s Big Show, artificial intelligence’s significance to the future of retail was clear.
Retail TECH 2023 пройдет в Москве в апреле
Find out the top 9 retail technology trends of 2021 and how these technologies will help you run a more efficient and profitable business. Alongside the growth of e-commerce, a variety of retail trends are reshaping the competitive landscape and driving innovation in 2024 and beyond. February 2024 | Bringing Digital Innovation to the Retail Sector. Unlike other industries where the primary focus is on profitability, in the retail sector, the focus in 2024 shifts to achieving an excellent and personalized customer experience. HoReCa. Retail Tech is held in Roofed Soccer Arena Minsk on 2 to 5 April 2024 showing the companies news of Belarus and internationals related to sectors Hotel equipment, Furnishings.
Retail Tech Trends in 2024
Одновременно с этим импульс для развития получили минимаркеты, или «магазины у дома» — как правило, это небольшие по площади магазины со смешанным ассортиментом и в том числе с высокой долей алкогольной продукции. В том числе благодаря тренду на экономию канал электронной коммерции остается одним из наиболее динамичных — покупатели продолжают сравнивать цены на большинство продуктов и находить более выгодные предложения онлайн, а игроки рынка активно инвестируют в развитие собственных интернет-продаж и пересмотр бизнес-моделей развитие сервисов экспресс-доставки и самовывоза, переключение на работу с локальными поставщиками, расширение числа дарксторов и так далее — иными словами, делают все возможное для оптимизации экономики бизнеса. Однако в целом можно говорить о том, что игрокам рынка удалось заместить выбывшие бренды — в первую очередь благодаря инвестициям в новинки и товары локального производства. Несмотря на сужение ассортимента, ритейлеры и производители не просто сохранили, а в отдельных категориях даже увеличили скорость и объем вывода новинок на полку. И этот тренд не остановился — в дальнейшем трансформация полки продолжится под давлением изменяющихся предпочтений покупателя и изменения конкурентного окружения среди производителей. Это происходит за счет того, что местные товары зачастую дешевле зарубежных аналогов или могут заменить выбывшие из ассортимента позиции, а часть покупателей меняет свои потребительские привычки в том числе для того, чтобы поддержать отечественных производителей. И в изменившихся условиях локальные и небольшие игроки становятся основным бенефициаром на рынке — в то время как крупнейшие производители теряют долю продаж, средние и маленькие игроки наращивают свое присутствие и показывают двузначный рост в денежном выражении. Стабилизацию спроса можно ожидать в ближайшие месяцы, но при отсутствии новых потрясений В прошедшем году инфляция на российском FMCG-рынке прошла свой основной пик, на фоне чего в 2023 ожидается замедление роста цен, которое уже заметно в начале года. Тем не менее ситуация остается непредсказуемой из-за воздействия на экономику внешних факторов, что может существенно повлиять на развитие рынка и ценовой политики.
При этом объемы потребления ожидаемо восстанавливаются: на цифрах можно заметить, что те тренды, которые можно было спрогнозировать в 2022 году , оправдались.
Now more than ever before, they demand individualized shopping experiences that cater to their needs - this is where artificial intelligence AI comes into play. By leveraging these tools effectively within your business strategy now rather than later down-the-line means staying competitive against other brands vying for attention among increasingly discerning shoppers always searching online first!
Sustainability is no longer just a buzzword, but a crucial aspect of business operations. By adopting green initiatives, companies can reduce their environmental impact while also benefiting their bottom line. How Retail Brands are Embracing Eco-Friendliness Retail brands are successfully integrating sustainability into their business models in the following ways: Using sustainable raw materials: Businesses are opting for environmentally sound products like bamboo or recycled plastic.
Energy-efficient stores: Solar panels, LED lights, and smart lighting systems help minimize consumption effortlessly. Embracing circular economy principles: Closed-loop supply chains reduce waste while creating new value from existing resources. By implementing these strategies, retail companies can appeal to conscious consumers who prioritize environmental responsibility.
Not only does this ethical practice benefit the environment, but it also ensures long-term cost savings. By reducing waste generation, using renewable energy sources, and promoting biodegradable packaging materials, companies can make a positive impact on the environment. This, in turn, can attract more customers who value sustainability.
As an industry expert, I know that sustainability is not just a trend, but a necessary step towards a better future. My Experience: The Real Problems 1. The death of brick-and-mortar retail is not due to e-commerce, but rather a lack of innovation and adaptation.
According to the National Retail Federation, in 2022, e-commerce only accounted for 14. The real problem is that traditional retailers have failed to create unique in-store experiences that cannot be replicated online. The rise of fast fashion is not solely responsible for the environmental crisis in the fashion industry.
The real problem is the overconsumption and disposal of clothing by consumers. The real problem is the lack of investment in employee training and development, leading to low job satisfaction and high turnover. The use of data and AI in retail is not inherently evil, but rather the lack of transparency and accountability in its use.
The real problem is the potential for misuse of data and the lack of regulation to protect consumer privacy. The concept of "retail therapy" is not a harmless coping mechanism, but rather a symptom of a larger societal issue. The real problem is the normalization of consumerism as a means of coping with stress and anxiety.
This concept enables consumers to shop for products virtually while watching live streaming videos online. In my expert opinion, the emergence of livestream shopping will be a game changer and open up numerous opportunities for retailers. Real-Time Interaction One significant advantage of this trend is its ability to offer customers an interactive experience unlike any other.
They receive real-time feedback from hosts or sales associates, making their buying decisions more informed and easier. Livestreams also allow brands to showcase their products in innovative ways beyond static images or product descriptions on websites — they can introduce new collections, provide exclusive promotions and demos with experts all without requiring customers leave home. This approach has been adopted by many businesses already as it provides them with unique advantages over traditional marketing methods such as TV commercials or print ads.
Livestream shopping is a game changer for retailers. It offers customers an interactive experience and allows brands to showcase their products in innovative ways. With the rise of social media and e-commerce, livestream shopping is the perfect combination of both.
How to use AI in e-commerce? Check out these seven use cases Competitive Pricing Challenges In times of rampant inflation, shoppers are on the hunt for better value for money. In the dynamic world of retail, setting the right price is essential. It is the sweet spot between driving profit and keeping customers returning for more.
Intelligent software analyzes large amounts of internal and external data to determine the perfect price point. Challenges in Forecasting and Demand Planning Analyzing trends and figuring out what products, when, and where will be needed are complex tasks that require a lot of data and many hours of analysis. The price of error is high. That is when AI forecasting tools come into play, helping make informed decisions for better financial results.
Just book a short call with AI experts Cybersecurity Challenges The retail industry is the number one target for cyber attacks. AI-driven security tools, unlike humans, quickly analyze large amounts of data, identify suspicious system behavior in seconds, and respond to real-time security threats. Adjusting to local markets has become a challenge during retail overseas expansion, but you have a solution. Because the quest for an enhanced customer experience, boosting productivity, and savvy cost efficiency is real.
And these driving forces are not just a passing trend. They will continue to shape the industry in the coming years. A highly personal approach in mass business is a tall order, but AI is stepping up to the plate. So, tailored shopping is not a luxury.
It is the future.
As technology has become a staple, retailers have started seeing themselves as tech businesses while carrying out their core functions. It is proving valuable for seamlessly blending online and offline experiences and setting new standards. Technology also comes into play in the transformation of omnichannel retailing , promising a unified journey across various touchpoints. As we move on to know about what these trends are, we need to know that they do not operate in isolation, rather they are interlinked and work together. Some of them are currently in the midst of their evolution, while some are still in their nascent stages. However, their potential to redefine the future of retail is palpable.
The impact of technology on service delivery has been remarkable in recent times. In 2023, technology investment was one important agenda for retail leaders and it will remain for the upcoming years. We explore the untapped possibilities and potential of technology across areas and use cases through the following transformative and emerging retail technology trends. They will set a course of high efficiency and productivity, leading to the enhancement in ROI. Artificial Intelligence Bringing Smartness The retail and consumer industry is undergoing a transformative shift with the widespread adoption of Artificial Intelligence AI. AI has already demonstrated its effectiveness in areas like demand forecasting and paving the way for hyper-personalization and advanced retail analytics. Moreover, it is offering impetus for building self-taught recommendation engines that will accord a new form to retail models.
Generative AI has begun rendering new dimensions to the industry, offering more advanced chatbots. Experiences are coming from different corners. Olay utilizes AI to deliver personalized skincare recommendations, creating a tailored customer experience for each customer. AI is showing its impact throughout the retail value chain. Likewise, many players are implementing machine learning and deep learning algorithms to reengineer their operations. With these developments, it is evident that AI is poised to trigger a major transformation in retail. Automation for Optimum Efforts The flourishing use of automation in the industry is poised to revolutionize operations.
Contrary to the common assumption that it will lead to widespread job loss, it is expected to result in a shift in job roles. With robots and automated systems taking over tasks like inventory management restocking and fulfillment , and checkout processes, the efficiency gains will open up opportunities for more high-touch online and in-store service roles. The integration of autonomous vehicles, robotic warehouses, and predictive analytics is set to streamline operations and greatly enhance efficiency. These trends are already unfolding though yet to mature fully. The innovative concept relies on computer vision, sensor fusion, and deep learning to allow customers to select items and leave without undergoing a conventional checkout process. Shoppers will find their time saved to a remarkable extent and also develop a positive image of the retailer. Major players like Target and Walmart have already implemented cutting-edge technologies, such as electronic shelf-edge labels, shelf-scanning robots, and partially automated backroom unloading.
These investments have shown impressive internal rates of return, solidifying the case of automating processes in retail. As VR headsets and AR glasses become more advanced and widely adopted, they are set to offer immersive virtual shopping experiences that are set to transform the way customers interact with products and stores.
The Tech Trends That Will Shape The Future of the Retail Sector
How will companies use technology to stay afloat and stay innovative for their customers? Here are 5 retail technology trends to look out for in 2024. Forschungszentrum für Handelsmanagement, Universität HSG Retail Tech Koferenz 2024 Logo in Weiss mit grauem Hintergrund. Accenture details how retail technology will adapt to shopping in the metaverse and other virtual retailing and retail technology trends. Read more. Look for more demand for retail technology that engages consumers digitally and bridges the gap between digital and physical interactions.” Tyler Wells, North American Sales Manager, MicroTouch. Here’s three trends for retail tech that we think you should keep an eye on – you’re probably going to see them in a store near you sooner rather than later! Hyperpersonalized content with AI. Stay ahead of the curve in the retail industry trends with our comprehensive guide to the top 10 trends shaping the future of shopping.