Blog

Top 3 future trends in Retail Industry 

25 January, 2018
retail1-detail
Blog

Find out the future trends and technologies that are shaping the retail industry and how Columbus can help you keep up with them.

I was witnessing and being at the center of the world’s most important retail conference where industry executives from across the globe learn the retail trends and get an unparalleled view into how retail brands of all sizes are transforming themselves for the digital age. I’ve curated the Top 3 technology trends that are and will be shaping the future of the retail industry.


1. Artificial Intelligence (AI)

According to the report, IDC FutureScape: Worldwide Retail 2018 Predictions, 37% of retailers are already adopting or plan to adopt AI for customer experience personalization in the next 12 months. The IDC report also suggests that by 2019, 40% of retailers will have developed a customer experience architecture supported by an AI layer. Therefore, it was no coincidence that AI took the spotlight at the NRF 2018. Artificial Intelligence is being used and will be used throughout the product/service lifecycle in innovative ways. There are many success stories in the following categories in retail where AI has yielded an increased ROI – sales and CRM applications, customer insights, manufacturing, logistics, and payments. 

"We depend on AI to keep us on upward trajectory." - @TommyHilfiger ‏


Learn more about AI on Columbus Cloud Inspire webinar: Retail in the age of cloud, on demand.


2. Internet of Things (IoT) & Analytics 

IoT solutions can help retailers gather more data on customer behavior in stores. The rise in sensors and other connected devices is increasingly contributing to the rapid growth of IoT-enabled capabilities across the retail industry. IoT can track products and help to gather data on product movement and customer interaction trajectory with the products. This analytics helps forward-thinking retailers integrate both digital and physical and design hyper-personalized customer experiences. Analytics also helps retailers in product movement information – which products are being sold or moved which in turn could help the sales associates with inventory management. 

"Customer and behavior data can help retailers retool technology to improve services."


3. Cloud Computing

Cloud computing was quite the buzzword in NRF2018. Keynote speakers and participants vouched for the cloud technology to be able to improve customer experience, economically and improve business processes. The retail industry is seen to be embracing the cloud technology not only enabling retailers to get better insights into business performance but is also proving to be the cost-effective way to develop a product.  Implementing cloud technology requires low-cost development tools thereby allowing retailers to save money.  

As we witnessed the future of the retail industry in the big apple, organizations like Microsoft and Adidas are making digital transformation dreams come true, putting the customers in the middle of the story. As NRF2018 reiterated, we also brought back the saying that ‘Customer experience is going to replace Product and Price’. We, at Columbus, have been working with leading retail customers to deliver an integrated environment where you can manage your entire business and all its retail channels, easily scaling to support growth in terms of customers, products, transactions, and target market. We know that the retail industry is moving quickly and after witnessing the future of retail at the NRF2018, we are sure that our right mix of solutions, business insight, and expertise will enable you to take control of your retail business.


Join me on Columbus Cloud Inspire webinar: Retail in the age of cloud, on demand.

Dag 3 på NRF: Nye teknologier i den fysiske butik
16 January 2019

Dag 3 på NRF: Nye teknologier i den fysiske butik

Det er sidste dag på NRF 2019, og i dag har vi været ude at se om der er nogen, der har implementeret nye spændende teknologier i den fysiske butik.

Categories: Retail, NRF19

Dag 2 på NRF 2019: Online tracking i den fysiske butik
15 January 2019

Dag 2 på NRF 2019: Online tracking i den fysiske butik

Der er ingen tvivl om, at hovedtemaet på NRF 2019 er Customer Experience   og i dag vil vi udforske, om der rent faktisk er nogen, der har formået at forbinde den fysiske butik og online i en samlet oplevelse. 

Categories: Retail, NRF19

Dag 1 på NRF 2019: Customer Experience
14 January 2019

Dag 1 på NRF 2019: Customer Experience

Verdens største konference og expo inden for Retail, NRF 2019, går løs i disse dage, og Columbus er selvfølgelig med i New York, klar til at suge alt det nye af det nye til os.

Categories: Retail, NRF19

Hvordan overvinder butikkerne udfordringen med at møde kunderne både offline og online?
08 January 2019

Hvordan overvinder butikkerne udfordringen med at møde kunderne både offline og online?

Start med at bruge eksisterende teknologi. Udfordringen med den forbundne forbruger er, at der skal være et teknologisk fundament på plads, for at butikkerne kan kommunikere med kunderne offline.

Categories: Retail, retail trends