Written by Bobby Nairn, One Step Retail Blogger | November 9, 2018
MORE ON SMART RETAILIf you are not yet familiar with the concept, allow me to give you an introduction…
We like to compare SMART Retailing to a SMART home. From one central location, you are able to dim the lights, adjust the temperature, and cue your favorite music. But for modern retailers, SMART Retailing is more of a necessity than a convenience, as it is essential to have your digital and physical environments working in rhythm to ensure a connected customer experience.
Earlier this month, a report was released estimating that the SMART Retail Market will reach 43.76 billion dollars by the year 2024. As expectations for a more connected customer experience increases, you will see a rise in the need for smart retail solutions that offer on-demand, personalized, recommendations and support throughout the entire shopping journey. These technologies will help retailers reimagine their shopping experience while being more agile, efficient and customer-centric.
Smart Retailing will undoubtedly become a central focus for brands looking to solidify their future in the retail industry. While today’s digitally-driven customers are already attached to their Smartphone, they seek SMART stores and SMARTer shopping experiences that offer end-to-end customer connection with your brand. Retailers must deliver a connected experience that exists not only between online, mobile and in-store formats but expands across payments, social and partner sites like Amazon, Farfetch or Yoox Net-A-Porter.
SMART technologies are connecting our lives together seamlessly today, but in the background of this shift between customers and staff exists the truth that many retailers still struggle with basic Omnichannel functionality. However, this doesn’t have to be the case. SMART Retailing is alive today and can be seen in many forward-thinking brands and retailers. As technology continues to move us further into the future, the idea of complete connectivity will become less and less “an idea” and more of a reality.
The future of retail is here, and it’s SMART.