Over the past two years, retail technology and virtual outlets have been significantly impacted by closures, occupancy and distancing restrictions.
And so it’s no surprise that many companies that have inevitably pushed even non-tech-savvy consumers into e-commerce have found themselves struggling to get to grips with the retail tech industry.
Nevertheless, this new generation of retail employees and consumers has created fertile ground for the adoption of new technologies and strategies for interacting with customers, expanding the opportunities and possibilities as part of the Internet as a whole. .
This has led many companies to adopt these new technologies and also provided the rationale for why these small businesses need IT support now more than ever. If you’re looking for a starting point, read about the notable retail tech funding rounds after this article.
Technology has given today’s retailers the ability to research the latest trends in the retail industry and therefore begin to set new standards for what is functional and acceptable.
Let’s take a look at the most important of them.
Trend 1: Cloud-based platforms for greater reliability
The fact is, most in-store teams lack the knowledge and experience to understand complex planograms and implement recommended changes without deviations.
Even more so when it comes to generic strategies that need to be implemented in stores with varying space configurations and consumer demographics.
Cloud-based platforms are technologies that allow you to build new robust, elastic, and agile application architectures, allowing you to respond faster to digital change.
Trend 2: AI for maximized performance
Artificial intelligence (AI) is a handy technique to improve business decision-making.
Each choice is presented as a series of processes, with intelligence and analysis instrumentalized to inform, learn and refine these processes.
Through the use of augmented analytics, simulations, and artificial intelligence, business intelligence can aid and improve human decision-making, and possibly automate it.
To make AI delivery more efficient, AI engineering automates data, model, and application upgrades. AI engineering, when combined with robustness AI governanceoperationalize the delivery of AI to ensure its long-term economic value.
Trend 3: IT that improves privacy
Privacy-enhancing computing protects the processing of personal data in untrusted contexts, which is becoming more important as privacy and data protection regulations evolve and consumer concerns increase.
Privacy-enhancing computing uses a number of privacy-enhancing approaches to extract value from data while complying with regulations.
Trend 4: the emergence of headless e-commerce
The term “headless trade” refers to software architectures that separate what customers see (the front-end interface) from core business activities such as payment processing and inventory management (the back-end software).
Essentially, the technology enables simple selling through a variety of channels.
Businesses that use backends, data, and portable data structures may be able to react quickly to market changes.
More importantly, the headless design enables businesses to deliver cross-platform shopping experiences by displaying the best front-end tools for each platform/device.