Retail shopping will change more in the next 10 years than it has in the last 1000 years. Everything will change,
stores will behave more like websites and websites more like stores.
The fundamentals of what a store is its purpose and function is already changing
These are the five biggest technologies that will affect your shopping experience
Increasingly retailers are using beacons to enhance in-store experiences while simultaneously
bridging your physical and online experiences
Beacons are small wireless devices that transmit a continuous radio signal. the signal ID is detected by smart phones
They send the ID to a cloud server the server can then push targeted content to the device
Bluetooth Low Energy ble is a technology behind beacons and it provides a device location on a very micro level
Down to a single stall aisle for instance. This means that if you have opted in
retailers will be able to gather data
not only on your movements, but also be able to push content to your device. Say you're walking past your favorite department store
and they're having a sale
with a beacon nearby your phone could alert you to the sale
From a retailer's perspective the data collection aspect of beacons is arguably more important in sales
They will be able to use the information to better segment customers and advertise accordingly
Stores like Macy's and Barneys have already deployed beacons
Retailers are no longer content to identify us via swipe of a loyalty card at the point of sale
They want to identify us as soon as we enter the store. The iPhone X has helped to normalize facial recognition and using this technology
Retailers aim to provide a customized experience. The technology, which uses over
16,000 reference points on your face, was originally designed to support security and events and international airports by using facial recognition
Systems retail staff will know what type of products you buy
and what your average spend is, so they can give more love to higher spenders
They'll be able to use software that reads emotion to identify when you are frustrated and notify staff to respond
of course
The staff that do respond may not be your typical human employees meet your new robot shopping assistant
Hello, I am Oshbot, what are you looking for today? Robot assistant technology already exists and can greet you in multiple languages
They have built-in 3d scanners with image recognition software to identify
items and navigate the store to guide you to the product
If you have an out-of-the-box question that is beyond the robot and it can start a video conference with a human
The robots are not limited to customer interaction and will also move into the supply chain which robot said check stock
Find pricing errors and items have been this place
These robots are intelligent enough to navigate existing stores and move around customers
The data these robots gather is compiled and analyzed to provide improvement recommendations
Traditional mirrors are out and smart displays are in. Using artificial intelligence,
virtual reality and gesture recognition technology the mirrors can superimpose clothing over your on-screen image.
In effect, the mirror becomes a virtual changing room where you can create complete outfits without ever getting undressed
This technology allows you to see all items even items that are not in stock and try and dozens of different combinations
To see what the same item would look like in a different color
Just swipe your hand. You can even share your virtual picture on social media
So your friends can give you advice before you buy that new jacket.
OakLabs has a similar product for fitting rooms
When you walk into a fitting room the mirror comes alive with all the items you have using RFID
You can request other sizes cuts and colors with the display and an alert is sent to sales staff to deliver the product to you
using Big Data the sales staff can also bring in additional products that other customers typically buy with those items
Essentially this brings the ease of online shopping into the tangible world of retail. Retail stores can use this technology
not just to measure average time in the fitting room, but also which items have the highest conversion rate
After robot support and interactive displays comes the payment process
Self-service checkouts have existed for over a decade, paying with your phone or watches newer
but we will see the rise and fall of this technology
The future of payments is you walking out of the store with your items automatically being scanned and the total being charged to your account
Amazon already has shops that identify you as you enter and automatically charge you as you leave. No need to scan any items
Payment in the future will have no queues no checkouts and no hassles
Hi everybody, Alex here, come into you from Singapore Airport as I wait to catch my midnight flight home
I really hope you enjoyed the video. Learning about technology, and how its shaped in the future is something. I really enjoy doing
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