Retail Tech Trends for 2019
2018 was a huge year for retail with new opportunities and challenges. Retailers are implementing all types of technology, but it can be hard to keep up with all the changes and determine what will really make an impact in your independent retail business.
1. Technology that enables choice and flexibility – particularly at the last mile – will be more important than ever
Things like free 2-day shipping, same day delivery, and in-store pickup are becoming essential for retailers to have. If you’re not already doing this, take a look at your existing technology and fulfilment practices and determine if they’re actually fulfilling the needs and wants of your customers. Do your shipping and delivery options fit within the lifestyle and shopping habits of your shoppers? If not. what can you do to improve?
2. Back office solutions and innovations will be at the forefront for many retailers
The back-end of your retail operations may not be as sexy as customer-facing initiatives, but in 2019, you need to invest in your back-office tech to thrive. Customers want more efficient and personalised experiences from retailers and to deliver this, merchants need to streamline and increase efficiency across the board, from warehouse operations to inventory management. Start by evaluating your processes and technologies to identify areas for improvement. Are there any inefficient tasks preventing you from providing the best customer experience possible?
3. Emerging payment options such as mobile and buy now, pay later will gain traction
Like most things in the retail industry, the checkout process is evolving. Emerging payment options such as mobile payments and “buy now, pay later” services like Klarna, will likely gain more traction in the coming year. If your customers want to pay using their mobile device or if they’re looking for more flexible payment options, then look into the different payment types you can offer to make the check-out process as smooth as possible.
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