Latest Trends in Retail
All the latest trends to come out of Retail Business Technology Expo, the new trade event which offered technology solutions for the retail industry by combining an exhibition of suppliers with free seminars & workshops plus networking.
After a two year gap, the UK again has a retail technology exhibition and seminar programme.
The show covered most aspects of the retail IT roadmap, but there were highlights.
Contactless payments – in the run up to the 2012 Olympics, retailers are trialling contactless payments as the best way to process huge volumes of transactions quickly.
Mobile commerce – everyone is talking about the growth of online shopping but it’s mobile that will take this to the next level. While major retailers report lower sales in stores, on line performance goes from strength to strength. People have been talking about mobile but the one thing stopping it is the ability to securely process payments. However, RBTE showcased that technology is now available for retailers that will allow them to take secure payments from a mobile device and this isn’t just for big business – this could be for small businesses or even tradesman. Payment could be taken at your doorstep via a smartphone.
Customer engagement – it’s no good having an online presence alone anymore, businesses must engage with their customers. They must reach out via social media channels and listen to what their customers are saying, if it’s bad, engage to find out why and turn unsatisfied customers into happy ones. Joules is a clothing retailer that has grown its online business. Joules recognises the power of social media and believes journey begins with collecting data for its brand and using it to engage with customers. It has grown multi channel business from less than £1m to more than £10m in under 2 years.
Intelligent fridges – As grocery retailers put doors on their freezers to conserve energy and do their bit for the environment, they risk losing sales by shutting the customers off from the products. A new company has developed a digital door that can not only display animated promotions running off the wireless network, you can still see the products inside.
Self-service – Self service and self-checkout technology gets personal; the new generation of machines can identify users through their loyalty cards, and ultimately through their smart phones, and personalise the interface with offers, previous shopping lists, multiple languages and unique interfaces.