Watch As the IoT and Other Tech Continue to Transform Retail in 2017
The future of retail is going to be tech-driven, even if the products aren’t
A few years ago, it was popular for pundits to point at retailers that didn’t have an e-commerce strategy and predict gloom and doom.
These days, it’s not just a retailer’s ability to sell online that matters, but their ability to integrate new technologies into every aspect of their business.
Consider the IoT, for instance, which Accenture’s Andrew Hopkins says, “will enable retailers to optimize operations in the face of a more complex supply chain.”
The benefits are considerable and range from improving the physical in-store environment, to freeing up sales associates’ time to focus on customers instead of low-value, manual activities like checking inventory, or adjusting prices. These will be centrally managed, and become fully automated.
Other forces that will impact retail this year are:
- Alternative checkout methods
- The rise of chatbots
- Increased sellables in social media and user-generated content
- Frictionless mobile payments
- Adoption and development of APIs
For more, read the full article on CIO.
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