Innovations that will make retail even more exciting is right around the corner as 5G, edge computing and AI proliferate. Retailers who are able to master the Omnichannel experience, target their marketing to the relevant audience, and build marketing campaigns that are perfectly timed are sure to thrive in this new data-driven world.
Data will be at the forefront in the evolution of the retail sector, as data makes it possible to know what’s on the buyer’s mind, even before they step a foot into a store. Data is gathered, stored and analyzed before, during and after your transaction. Mastering Omnichannel, which is nothing but integrating in-store shopping, mobile apps, social media, and more, all into one central mind,will help in delivering a seamless experience for the customer.
When integrated with computer vision, self-checkout systems confirms that the item you scan matches with what’s in your bag and also facilitates payment authentication, gesture recognition for touch-less commands and to add the icing on the cake, they can present the customer with potential add-ons to their cart.
Many retailers have already started reaping the benefits of advancements in machine learning, AI, computer vision, augmented reality, IoT, and robotics.