Arts & Entertainment
The Role of New Technology In Retail - Frank LoBue
Frank LoBue, retail professional in New York, talks about the rising importance of tech in the retail industry.
Technology is continually changing the way we interact with businesses in store and online. The retail sector has seen significant changes with new technology trends. Customers are reacting to these emerging technologies and retailers need to keep up in order to retain customers and continue to create a welcoming experience.
Customer-Facing
A majority of retail shopping now happens on online stores. Implementing new technologies to your online store can prove to be wildly profitable and helpful for you and your customers. Artificial Intelligence has been developed to help your customers find what they are looking for with ease. Artificial Intelligence (AI) has the ability to track a user’s search history on the retail store’s website. AI can then give the user suggestions for what to look at next on the site based on their search history. This could make online shopping experience much quicker and easier for the customer. Similarly, AI can be used as a chatbot online to help answer basic customer concerns. This feature in AI helps customers and employees alike. Chatbots can be programmed to answer FAQ questions or suggest measures to take if there is a question they cannot answer.
Augmented Reality (AR) is a quickly moving technology making its way into businesses. AR can offer a unique experience to customers and allow them to virtually try on clothes or other products. AR is being used in many different aspects such as viewing what haircuts would look like on you before paying for it! Makeup products and eyeglasses can be tested before purchasing streamlining the process for customer and retailers.
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Business-Facing
Organizational technologies have begun to help retail professionals stay organized and save a mass amount of time performing tedious tasks. Technology can now take the hassle out of inventory management. New tech can track inventory from its arrival at the store to customer purchase and give real time updates on inventory. This ability to track can offer essential information about purchasing trends and what is in demand at that time. Professionals can then order items that are flying off the shelves and stock up on items that have shown to be trendy at that time of the year.
Eventually, many of these tech advancements will become the norm in every brick and mortar store and online. Keep up with emerging tech trends and see how they can apply to your business model!
Find out what's happening in New York Cityfor free with the latest updates from Patch.
About The Author:
Frank LoBue is a retail and business professional based out of New York, New York. For over twenty years, Frank has worked in the retail industry and earned his masters degree in Management and Finance to help him in his career. Frank frequently writes about retail and retail trends and also about baseball, specially his favorite baseball team, The New York Yankees.
Visit Frank's website to learn more about him and the topics he writes about!
