How Technology is Changing the Retail Industry

In today’s technological age, it would be impossible to imagine life without the Internet, smartphones, and other digital innovations that have been integrated into our daily lives. While all technology can make life easier in some ways, advancements in the retail industry are making it easier than ever to shop from home, track product delivery status, and purchase desired products online with just a few clicks. We explore how technology is changing the future of retail eCommerce businesses in this article, featuring real-life examples of how consumers are taking advantage of technology to buy products online more easily than ever before.

1. Mobile Apps

While mobile shopping has been a growing trend in recent years, it’s expected to take off in a major way in 2014. In fact, 2013 was a record year for app development, with more than 2 million apps created—more than were developed from 2008 to 2012 combined. And that doesn’t even include mobile-optimized websites, which are becoming increasingly important for retailers.

As a result, if you want your business to stay relevant over time, you’ll need an eCommerce software solution in addition to a physical one.

2. Virtual Reality (VR)

With VR, consumers are able to experience products in entirely new ways. With 360-degree footage, viewers can walk through a retail environment without having to physically move at all. Using VR, consumers are also able to see how items would look in their own home, whether it’s a coffee table or outdoor set. 360-degree video can make potential buyers feel as if they are looking at an item for real—and gives them more information about what they are considering purchasing.

3. Augmented Reality (AR)

We all know how important it is to have your product designed for 3D printing from an early stage in your design process. We’ve been using 3D printing, or additive manufacturing as it’s also known, for about 15 years now and it has become a vital part of our design toolkit. In many cases it can cut down development time by 50% or more so we typically start with a proof of concept prototype printed on a MakerBot Replicator 2x printer.

4. 3D Printing

In 3D printing, a 3D digital file can be used to produce a physical object from a selection of materials. 3D printers have been around for years, but over time they have been made faster and more accurate. They are now becoming cheaper, too. For instance, MakerBot’s most affordable 3D printer will set you back only $1,375 – which is nearly half of what it cost just last year.

5. Voice Commerce

With voice commerce and intelligent assistants like Alexa, consumers can now interact with e-commerce platforms by speaking to their devices. This makes it easier than ever for companies to reach their target demographic, making voice commerce a reliable way to keep up with consumer trends. By working with artificial intelligence (AI) and machine learning (ML), retailers can adapt to these changes and develop strategies that will allow them to stay competitive in today’s marketplace.

Conclusion

It seems as though technology will continue to change retail as we know it. New solutions, such as those outlined above, will emerge and become commonplace in stores everywhere. The fact that these technologies are both affordable and easy to implement means that they won’t just be available in high-end shopping centers or malls – they’ll be a part of every store owner’s arsenal going forward.

If you’re ready to adopt these technologies and make your goal of providing additional value to your clients, A retail software development company in India is the ideal partner for you. It can provide you with retail software development services.

Good luck!