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Why it’s important to keep up with the latest retail technology

Wednesday, July 25, 2018

It is more important than ever for retailers to adopt the latest retail technology in order to provide a better customer experience.   

We are all witnessing the scale of the digital revolution with retailers around the world stepping up their levels of service to remain competitive. With customers now more informed than ever and empowered with choice, it’s no surprise that a customers in-store experience is high on retailers’ agenda. 

The shopping experience is very different today than it was 20 years ago. Traditional retailing consisted of customers going into a store, picking up an item, and then paying for it. This method of retailing is no longer the case with over 86% of customers now researching products and services before buying. The fact that most customers’ now have smartphones means that before purchasing they are comparing prices, location, products but also personal experiences, especially the bad ones. 

There are three main areas of retail technology that are being used to improve the customer experience. 
Digital signage and in-store display technology is having a major impact on customer experience. Display technology gives customers’ information on item location, stock, sales and has, on average, resulted in an increase in sales of 20% for the top 5 global retailers.    

Real-time inventory data and technology is beneficial for retailers because of the efficiency, availability, and savings made by reducing over ordering of stock. Retailers using real-time inventory solutions have reported an 11% decrease in stock loss. 

Self-service kiosks are also modern ways in which customers can purchase items in-store. It is also noted that customers also prefer to purchase through this method, as currently 2/3 of customers who enter a store would rather pay this way.  

If you are looking for ways to keep up with the latest retail technology then you will benefit from learning about our diverse range of retail IT technology. We have over 20 years experience in providing the latest in-store technology services, traffic counting solutions, giving you the ability to measure store volumes, click & collect services, giving your customers the choice of purchasing methods and tablet-based POS systems giving your customers the ability to pay on the shop floor. 

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