Cognizant envisions that retail of the future will involve enriching in-store experiences with all sorts of dynamic technology.
The concept for 'The Digital Store of the Future' was designed in response to reports that "95% of all retail sales are the result of online, mobile and in-store interaction." By providing mobile alerts, information everywhere, digital associates, interactive displays and after-hours pickup stations, Cognizant's omnichannel concept store satisfies consumer desires for a shopping experience that's speedy, convenient and flexible.
While there are currently virtual dressing rooms and smart store displays being experimented with by many retailers around the world, this vision of retail of the future may provide a greater idea of what's to come when the possibilities of what technology can add to the in-store experience are used to the fullest.
Omnichannel Retail Concepts
Cognizant Explores Tech-Integrated Concepts for Retail of the Future
Trend Themes
1. Omnichannel Retail - Cognizant's tech-integrated concept store demonstrates the trend of combining online, mobile, and in-store interactions for a seamless retail experience.
2. Dynamic Technology - The use of mobile alerts, interactive displays, and digital associates in Cognizant's concept store highlights the trend of incorporating dynamic technology into the retail environment.
3. Enhanced In-store Experience - Cognizant's vision of the future of retail focuses on enriching the in-store experience through technology, showcasing the trend of improving customer satisfaction through innovative solutions.
Industry Implications
1. Retail - Cognizant's tech-integrated concept store presents disruptive innovation opportunities for the retail industry to enhance customer experience and drive sales.
2. Technology - The incorporation of dynamic technology in Cognizant's concept store opens up disruptive innovation opportunities for the technology industry to create innovative solutions for retailers.
3. E-commerce - The trend of omnichannel retail highlighted by Cognizant's concept store provides disruptive innovation opportunities for the e-commerce industry to integrate online and offline experiences.