How technology will drive 2019
Posted on in Business News
Internet Retailing has provided insight from industry insiders sharing their predictions for the retail year ahead.
We want to understand how consumers might shop over 2019.
Industry insiders present four ground-breaking ideas and technological advances they predict will affect the way consumers shop in 2019.
Cars as a shopping platform
Dan Mitchell, Global Director SAS.
Cars today have made monumental head way with the technology they poses. Cars can now be connected to our smartphone and this is where information sharing begins. The car suddenly has knowledge of you, your habits and preferences. Mitchell explains how, with this knowledge cars have of shoppers, the future will bring cars that can efficiently plan and execute shopping journeys more competently. Mitchell draws this insight from applications that already exist out there such as Waze, an app that crowdsources about speed traps. He claims that with the right values offered by retailers, the burden upon consumers will reduce and shopping will become quicker and more efficient.
Internet of things (IoT) in retail will paint shopping as less overbearing
Rachit Khare, VP The Smart Cube.
IoT is already assisting retailers in following consumers through their personal shopping journeys tracking search operations, explorations of sites and purchasing goods. The advancements in technology have meant that retailers' are delivering the right message at the right time to the right audience. Advancing this further, by pairing data science and retail experience, will make the shopping experience uniquely tailored to every consumer.
Intelligence not performance
Huw Owen, Couchbase.
Owen states that the retail marketspace is moving further and further away from performance as interest heightens around intelligence. For Owen, 2019 will see the introduction of analytics at the centre of the retail marketspace. It is no longer about the sales and promotions available throughout the year but the delivery of real-time, personalised content to consumers within the periods before the sales hit.
Internet of Things (IoT)
Atish Gude, chief strategy officer NetApp.
Gude discusses how IoT devices are built around a "phone home" paradigm, in that they collect data, process it and wait for instructions. However, with the rate of data growth increasing real-time decisions are falling short. It is exactly at this point that data processing capabilities will need to happen at the edge, close to the consumer in order to intensify the demand. IoT devices will get smarter and learn to decipher which data requires immediate action, what can be stored at the core and what data can be discarded.
These four predictions are interesting and with the advancements of technology, more and more possible. But what does this mean for Indie Retail shops? Let us know your thoughts and comments below.