Technology has revolutionised every facet of the retail industry from its behind-the-scenes operations to its customer-facing interactions
Technology has brought about a profound transformation across all aspects of the retail sector, encompassing both its behind-the-scenes operations and customer-facing engagements. While backend technology plays a pivotal role in fortifying the business’s foundational infrastructure, front-end technology is just as essential in maintaining exceptional customer service standards.
Endless aisles and hybrid retail model
This concept allows customers to order items even when they are not physically available in the store, and it is gaining popularity in developed markets and there is also option to place orders through a POS Terminal while shopping in a physical store. India, being a vast country with diverse consumer preferences, can greatly benefit from this approach. It enables retailers to offer a broader product range without the need for extensive inventory in each store, making it a cost-effective way to cater to remote and varied customer needs.
Smart Shelves and RFID Technology
Smart shelves equipped with Radio Frequency Identification (RFID) technology are becoming increasingly common worldwide. These shelves automatically track inventory levels, reducing the need for manual stock checks and ensuring product availability. RFID technology can also help combat inventory theft and improve inventory management, addressing challenges in India’s retail landscape.
AI-Powered Customer Assistance
AI-powered chatbots and virtual assistants are enhancing customer service in retail stores. These systems provide personalized product recommendations, answer customer queries, and even process payments. Implementing AI-driven customer assistance can help Indian retailers offer better customer experiences while optimizing staff resources.
Augmented Reality (AR) and Virtual Reality (VR)
AR and VR technologies create immersive shopping experiences, allowing customers to virtually try on clothes, test furniture placements, or explore products in a 3D environment. These technologies can be particularly useful in India, where consumers often prefer to physically examine products before making a purchase.
Image Recognition
Enhances the current visibility process, making it more impactful and efficient. Simultaneously, it reduces the time required to serve by integrating an SFA solution. This, in turn, provides additional trade time for the Sales/Execution team, as opposed to solely managing the proof of performance.
Contactless Payment Solutions
Due to the ongoing focus on health and hygiene, contactless payment options like NFC payments, QR code payments, and mobile wallets have gained popularity globally. India is also experiencing an increase in digital payments, and further adoption of these technologies can streamline the payment process and reduce the reliance on physical cash transactions.
By Raj Santhana, Business Head, Smollan India
