Retail technology trends to help you during the Covid-19 crisis

During the Covid-19 outbreak, technological innovations have radically changed the way we live our lives. Even if you are not a tech junky, new retail technology is now a part of your life. In this post, you will learn what technology is being used in stores. 

If you want to learn more, you can go beyond this article and explore other essays. Technology is never static. It evolves rapidly. In order to keep up with trends, you always need to stay abreast of things and you should analyse the news in the top editions, watch reviews, take a look at technology essay examples and surf the internet. You will be amazed to learn how far technology has gone in a relatively short period of time. 

Over the past few years, we have seen tremendous progress in artificial intelligence and Big Data. However, in this post we will limit our discussion to technology in retail stores. Let’s see what technological innovations have helped us deal with the Covid-19 crisis. 

E-commerce friendly PoS systems 

With the help of e-commerce platforms, business owners are now optimising their sales processes. E-commerce systems have allowed retailers to sell their products and services online. 

There is no doubt that business owners will enjoy more sales channels after the pandemic. They will sync offline and online transactions, promotions and inventory. 

Artificial intelligence for demand forecasting

The Covid-19 pandemic is going to have an impact on customer demands. But is there any way to predict those shifts? It seems artificial intelligence will get the job done. 

Businesses are going to use AI to predict customer demands. AI will also control marketing campaigns and manufacturing processes. Traditional forecasting methods are not as adaptable to changes as machine learning approaches.

Today's reality requires machine learning approaches. Demand forecasting accuracy is much higher than that of traditional methods. 

Augmented shopping

More than 100 million consumers are now using augmented reality and it has significantly enhanced their shopping experiences. These systems are now highly in demand, partly because of the Covid-19 pandemic. 

Customers are attracted to augmented shopping because it offers the try-before-you-buy approach. They are now interacting with products without actually touching the products. Augmented shopping has significant potential, and we will see that in the coming months. 

The field is rapidly changing. If you have to write an essay on this topic, you must careful about the information out there, because it is updating very quickly.

Data science-based personal interaction

Today's tools are highly personalised, and that has been possible for machine learning and data science technologies. Businesses are using ML and DS-powered engines, and customers are receiving personal recommendations. The recommendation engine works by using consumer needs and desires. The system also uses information collected from other customers. 

In terms of providing personal recommendations, online app-based stores are much more advanced than physical stores. Alibaba Group has designed fashion AI and this is known for providing personalised recommendations to customers.

It is expected that data science-based personal interaction will be highly in demand in the coming months. Many tech gurus are writing essays, focusing on the progress that is being made in this field. 

Cashierless and staff-free stores

To prevent the spread of coronavirus infection, social distancing has been proved efficient. The retail landscape is being reimagined, thanks to the progress being made in the Big Data and artificial intelligence spaces. Some surveys have found that close to 90% of customers would prefer stores with self check-out options. 

Machine learning, facial recognition, computer vision system, RFID tags and some other tools will contribute to digital transformation. Amazon has already seen some success with its cashier-less stores. Once you leave the store, your purchases will be paid for automatically. The service is basically free; you don’t have to pay for it. 

Voice commerce 

NLP and artificial intelligence are making progress very quickly. Now we have Siri, Bixby, Alexa, Google Home Assistant and Microsoft Cortana. To use voice assistants, you do not need to use any browser or screen-based app. Voice assistants are able to recognise your speech. 

Edison Research and NPR have undertaken research and found that about 70 million people are using smart speaker systems. In the coming years, more and more devices will be Alexa-enabled. Smart mirrors and other devices are already successfully using the technology. 

In e-commerce and retail, many machines are successfully using voice recognition technology. And the phenomenon is known as voice commerce. Customers are no longer using search boxes. Instead, they are using voice commands. 

Walmart has already started commercially using this technology. To place commands, you just have to use voice commands. Walmart allows its customers to use either Siri or Google Assistant. 

Once you have placed an order, the workers deliver the item. And ordering products is not the only use of voice command technology. The technology is being used for many other purposes. For example, a college student may use Google Assistant for learning purposes.

Robotics

Robots are now doing lots of mundane tasks, including last-mile delivery, analytics of inventory, tracking and cleaning. With the help of artificial intelligence, robots are going to help retailers by improving store operations and cutting costs. Amazon Scout is already doing last-mile delivery work. 

Researchers are also working on shelf auditing robots and aerial drones. They will be able to sense shelves and monitor pricing. Pepper and LowBot are able to answer personalised questions, understand customer preferences, navigate customers and find goods. These are just a few examples of what robots can do. 

Machine learning and computer vision-powered robots will analyse inventory issues and send reports to humans. Robots are also going to significantly contribute to in-store operations. Chances are that they will eventually replace store employees. If social distancing remains the norm, robots will become more relevant. 

Final thoughts

The Covid-19 outbreak has disrupted our normal activities, but technology has helped us find innovative ways to deal with the crisis. Now one thing is sure: whether the pandemic lasts or not, technological innovations will not stop.

That means many more tasks will be automated, and the future will be very different. We do not know what other technology will come, but we know for sure that automation will go a long way.