Retailers adopt connected shelving systems to ease customer experience
Trend - Retailers, particularly those in the food and beverage space, are turning to technology to transform once-traditional shelving systems. Whether allowing for greater information on the products being sold or enhancing the convenience of shopping in general, such systems are adapting to consumers’ expectations for informed yet fast purchase journeys.
Insight - Brick and mortar shopping experiences now compete with online shopping experiences, with consumers preferring the convenience of virtual shopping as well as the ability to quickly research products before buying. Brands that are able to replicate these experiences in-store have a leg up in the brick and mortar space.
Insight - Brick and mortar shopping experiences now compete with online shopping experiences, with consumers preferring the convenience of virtual shopping as well as the ability to quickly research products before buying. Brands that are able to replicate these experiences in-store have a leg up in the brick and mortar space.
Workshop Question - Consider where your brand could adopt intelligent systems at its retail locations.
Trend Themes
1. Connected Shelving Systems - Retailers are turning to technology to transform traditional shelving systems allowing for greater information on products and enhancing convenience of in-store shopping.
2. In-store Smart Technology - Retailers are using smart technology systems to offer personalization, improved convenience and connection in-store, creating new opportunities for revenue collection through digital advertising space.
3. AI-assisted Shopping - Artificial intelligence and LED shelf lights combined with voice-powered interfaces are being used to help customers receive recommendations and education on products, further enhancing interactivity and convenience.
Industry Implications
1. Retail Industry - Retailers are using technology such as connected shelving systems to create a more convenient and engaging shopping experience that better competes with online shopping.
2. Consumer Electronics Industry - Consumer electronics companies are helping retailers develop the technology for next-gen shopping showcases, including unstaffed stores with NFC and RFID products, secure payment solutions and mobile loyalty programs.
3. Market Research Industry - Market research companies such as PowerShelf are giving consumers the ability to provide feedback on product packaging, branding and advertising performance in a simulated in-store setting allowing retailers to make data-driven decisions.
