Gone are the days where retail shopping simply meant walking into a store and making a purchase. With great advances in technology over the last decade or two, the retail industry has completely shifted and evolved into a completely different experience for both consumers and business owners. In today's article, we have a quick look into how technology has taken over the retail experience, so read on to find out more!
1. Understaffing is No Longer an Issue
Retail business owners all around the nation know how much of a headache understaffing can be. Without enough staff on the floor, running a retail business can become an incredibly painful experience. Thanks to various technological tools such as Deputy's scheduling software for employees, business owners and workers now have easy access to their schedules via mobile phone, tablet or PC. Scheduling software can create shifts up to months in advance, allowing for employees to make changes to their shifts as early as possible. This greatly reduces the chances of last-minute changes or absenteeism and allows for other employees to engage in shift swapping to ensure that your team is never understaffed ever again.
2. Multiple Payment Options for Customers
Society as a whole has seen a shift towards cashless transactions in the last decade. Most businesses now offer contactless payments to their customers, thanks to advances in POS system technologies. Whilst cash payments are generally still accepted by a wide variety of businesses, more and more retailers are now operating businesses through debit card, credit card and even mobile wallet payments. This not only offers consumers convenience but also helps a business keep track of its finances in a much more streamlined fashion.
3. Buy Now, Pay Later
The concept of buy now and pay later has really gained momentum in the last year or two. With payment solutions such as Afterpay, ZipPay and Open Pay now being used by more and more people around the nation, retailers have now decided to offer these payment solutions not just online but even in-store. Retail giants such as Sephora, General Pants and other industry leaders are now offering customers the ability to purchase goods without having to worry about the bill. These services allow customers to split their bill into either fortnightly or weekly payments, allowing businesses to sell more products to consumers in one go, especially to customers who may not have credit cards.
4. A Brand New In-Store Experience
Traditional retail setups have undergone radical changes as the years have passed. Retail outlets have slowly transitioned into frictionless, experiential environments that engage a customer's senses on all levels. With the introduction of digital displays and adverts in-store, interactive smart mirrors and cashierless checkouts, customers have a brand new experience of 21st century retail. Much of this transformation has been made possible through emerging technologies such as AI, offering an all-rounded shopping experience for consumers of today.
5. Shop From Home
Last but not least, online shopping technologies have completely transformed the retail industry in the last 2 decades. Where customers once had to travel in-store for items, they are now able to hop on to a retailer's website in order to acquire those same products, but from the comfort of their own home. As e-commerce continues to rapidly grow, so does the demand for online options when it comes to retail shopping. Retail businesses can now reach consumers far beyond their local proximity, thus boosting sales, revenue and overall brand exposure.
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There is no doubt that technology has truly transformed the retail experience for both consumers and businesses in the last two decades. As technology continues to make advancements, we can only wonder how retail will further evolve in the next few years. We hope that this article has given you some insight into how technology has taken over the retail experience.
