Retail technology will come into its own in 2015

By: Teamwork Retail

The retail sector is expected to experience some breakthroughs in 2015 thanks to key technologies. A WalkerSands Communications survey of more than 1,400 consumers in the United States discovered customers are purchasing products more often on the Internet and are buying broader items as well. Amazon remains the top website for online transactions.

The report noted commerce and technology are intersecting, resulting in trends that change the shopping experience. Drones and virtual reality are both influencing the marketplace that companies should pay close attention to in 2015.

The survey also found customers still have some concerns regarding the use of digital payments, and these must be addressed by firms.

Companies with older point-of-sale systems may need to refresh their systems to support today’s tech-savvy audiences. The popularity of devices such as iPhones, which include Apple Pay, has fueled the digital payment space recently. Businesses that do not employ tools such as mobile retail POS software will be unable to support shoppers who want fast and easy checkouts by simply tapping their phones to the system, avoiding rummaging through their purses or wallets to pay with credit cards or cash.

The latest POS solutions are not only beneficial to customers, but brands themselves. Mobile tools backed by cloud computing services enable retailers to gain real-time insight into consumer data. Employees able to view information related to buying habits can deliver special promotions to shoppers based on these relevant details. Businesses that offer personalized deals to audiences should keep consumers shopping at their stores consistently, not just during busy periods such as the holidays.

Technology will continue to reshape consumer landscapes moving forward. Businesses that embrace the potential of newer solutions stand to be ahead of the curve, as opposed to brands that insist on moving slowly with any upgrades to their operations.

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