Trends in retail technology innovation

The way people make purchases is changing because of technology. The retail industry is rapidly changing, and a few trends are emerging.

Physical stores are changing the way they operate to sell to online customers. Omnichannel retail is all about creating a frictionless, unified experience between traditional and online shopping, and it’s rapidly expanding. Retail stores want to provide more interactive experiences and better customer service by blurring the line between online and physical offerings.

Getting a retail tech-related job 

As the retail industry changes, the job market is also expanding. Even if you’ve never considered a retail-related job before, the new positions might spark your interest. There’s a growing demand for employees who are knowledgeable about tech to work in this industry.

For example, having a degree in data-management skills can land you a job in customer analytics. These are the professionals who look at data about the business’s clients and determine what needs to be improved. By looking at the customer journey, you can determine where the company needs to invest to serve them. 

IT professionals are also needed as more people shift to buying online. Software developers and employees who know their way around the internet are also needed to organise companies’ marketing efforts. So how do you take advantage of these trends for your career?

Consider getting a tech-related degree to fit in this quickly growing field. Taking out private student loans might be your best bet for paying for school. That way, you can get your degree now and start your career sooner.

Buy online, pick up in-store (BOPIS)

This is one example of innovation that is not new in retail but is already becoming more popular. With Covid-19 restrictions, many stores are offering people the option to choose and pay for their items online and pick them up at the store at the curb.

Customers get the convenience of not having to go in the store or expose themselves to germs, but they don’t have to pay for shipping. New ideas are being developed on how stores can be transformed around BOPIS. For instance, some companies are looking into driverless vehicles to bring customers to the store. 

Various platforms and mobile devices are linked with supply chain data and inventory, allowing workers to coordinate orders and what’s available in-store. Still, BOPIS isn’t something that stores are rushing.

If they bring BOPIS to the market without supporting it, it could reduce sales. Many times, customers only give businesses one chance to get things right. People aren't always loyal to a certain brand. They often care more about quality, cost, and convenience.

Increased customisation

Today, people expect to have control over selecting their products. It’s all about giving customers what they want. Some retailers have experimented with 3D printed clothing. Others let shoppers get apparel in size combinations that many companies don’t provide. Some companies create apparel in combinations of sizes, like dresses that are size 6 top and size 8 on the bottom, allowing customers to order just what they want.