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Ways Technology has affected the Retail Industry

Technology is taking the world by storm. It has brought advancement to every aspect of human life. The retail industry has not been left behind. Accountability has been made possible using the Quickbooks hosting for desktop in many retail businesses. In this article, we are going to discuss how technology has impacted the retail industry.

Introduction of RFID

The integration of radio frequency identification has enabled both the customer and the retailer engage with such ease unlike before. In the past, ordinary tags would waste time in checkout points calculating the price. Also, if a commodity is stolen, then the RFID can transmit signals of where the item might be even if it is outside the store. Previous efforts have seen security beefed up around the store only. Such tech, however, could not track the items once they got out of the store undetected. In July, Ron Johnson announced that he would get rid of traditional checkouts by the end of 2013.

The introduction of tech gadgets

The introduction of tablets and iPads into the retail section has brought many developments, especially in the cash payments. One only has to run some application through the buyers and the retailer’s apps, after doing so, the cash transaction comes through. Automation of the retailer’s industry has come a long way. From the use of cash, to credit and debit cards, and the use of digital currency has become a long way coming for the industry.

Virtual Reality, Augmented Reality, and Drone Technology 

Retailers now get to catalog their items for all the customers to see. It is an advancement since now the customer can get access to the commodities in the store before this would take a long time going through the aisles looking for the particular product. It has come to save time and energy. Such virtual reality has come to aid the retail industry, by making operations more efficient. Augmented reality comes in when advertising is taking place. In the United States of America, it is common to have mascots in front of food joints. The costumes they put on are products of augmented reality. They are meant to attract clientele into the food joints, some of the outfits resemble food served in the joint.

Drones in this industry have been used during the delivery process. Stores like Amazon are using drone technology to deliver their products to their customers. Drone integration into the retail industry has pushed forward the growth of the sector. The drones can cover more distance within a short time and carry substantial weight. Such actions have eased the timeline of the customer and the buyer, as they are flexible. The customer waits for a shorter period, and the retailer gets to make a sale faster.

It has led to harnessing direct and indirect benefits of creating the experience
Due to the vast interaction, that takes place between products and services through various devices and touch points. The engagement with the brand would be direct and indirect, direct meaning engaging with the products. Indirect being the connections with other customers through social media handles or buying through other marketplaces. With the increase of the links, the experiences continue to distort. Retailers who use the data appropriately get to raise their brands and stores. Choosing data that gives back correct feedback is also a plus.

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