Technology Trends in Retail: How Tech will transform Shopping in 2020

Probably around a couple of decades back, no one has ever imagined that the use of technology would drastically change our perception and bring about a massive revolution in the market with everything, including the way we shop or buy day to day products. In an era where Smartphone have become a mode of purchases, buying tickets, booking hotels, filling fuel from petrol pumps, retail sector to has come with amazing developments making our life simple, secure, and convenient.

Technology, marketing, and retail go hand in hand in the modern era. Retail chain owners and even brands themselves are using technology to create engaging customer experiences. Technology has changed the way we shop today. Also if we want to buy furniture or a car, we don’t have to hop these days. We can sit on our couch and make our selection. The pricing and other details are available in a few clicks, and you can even ask for a live demo or place your order. Also, the use of certain technologies like the VR, where customers can sit at home and take part in a unique experience where you can design your stuff like wardrobes, kitchens, bathrooms, and more and the best part is that you can share the same with your close ones online and take their inputs.

Technologies that have changed the way we shop

Advancement in technology has revolutionized the way shoppers experience their shopping journey. Today we can interact with our brands, explore a much better shopping experience, buy the best-suited products, and pay the apt price. The benefits of technological progress in the retail sector have benefitted both consumers and retailers. The most successful of retailers have realized that the use of technology in their business can help offer seamless service for all angles and draw more customers for them.

Taking it further, let’s look at some of the cutting edge technologies that have changed the way we shop today.

Smart Mirrors

We all have tried clothes in a showroom trial room. Yet, we all, at certain points, want to avoid the exercise. A Smart Mirror solves this problem. It works by recording a small video and provides an all-around image of how we are going to look with the piece. It allows the customer to check his appearances from different angles to be able to buy the most appropriate product. It even allows the buyer to email the clips to themselves, which they can share and take reviews from family and friends.

Similar technology is being used by brands like Lenskart for customers to select which pair of glasses best fits their face.

Mobile NFC for payments

Waiting in the queue for payments or counting cash can be a bit cumbersome for customers these days. A mobile NFC payment model enables customers to make payments in a flash. You need to put your NFC mobile in front of the payment terminal. This technology is highly gaining popularity as it is convenient for customers and saves a lot of time. It reduces fraudulent transactions, and it pretty easy and fast.

Almost all retail chains in the country are using technology these days.

AR – Augmented Reality

Now that is something that makes life and purchases so accurate and meaningful. The use of this technology is pretty good for more significant purchases like furniture, as we all generally get confused with the selections, and a wrong purchase can create a lot of inconveniences.

Brands like IKEA and Wayfair are using the app that makes shoppers pick the correct piece by allowing them to see how a piece or lighting or furniture would look in their set up environment. The virtual setup can be viewed from several angles for satisfaction before buying.

Virtual and Voice based Searches

Amazon’s Alexa and Apple’s Siri allows the customer to read out their needs, and it directs you to the nearest stores and retail outlets. It evens calls up retailers based on your location map and connects you with the store. Along with voiced based search visual search like Google Lens are used by retailers to find an item and see them on their computer or mobile screen with details of the retailers.

Mobile Wallets

Mobile wallets are the most widely used technological boon for shoppers in this millennium. It helps in making payments and checkout much faster and convenient. It is an excellent use of technology to ascertain customer retention by meeting their expectations and enhance loyalty.

Almost all retail outlets and chains like Future Group are using this technology widely.

Technology in the retail segment is being used extensively to; to appeal buyers, enrich their shopping experiences, promote products, and also for experimental purposes. The most innovative use is the most popular it becomes. With constant endeavor by techies to devise, new means to incorporate technology in the sector will undoubtedly lead to newer dimensions of shopping experience for shoppers in 2020.