New Retail Technologies & Their Impact On Retail Business: BFT Sem 4 Assignment 2

NEW RETAIL TECHNOLOGIES &
THEIR IMPACT ON RETAIL

BUSINESS
Bft Sem 4 Assignment 2
Submitted By :-
Akheela P V ( BFT/18/240)
Anjali Bajpai (BFT/18/112)
Krista Susan Anith(BFT/18/22)
INTRODUCTION
 The changing nature of retail means tech leaders
have a unique opportunity to architect a new tech-
fueled, customer-centered shopping experience.
 The role of the technology architect today is

actually one of innovation.
 And it's both innovation in terms of technology

deployment but also innovation in what that role is
in defining the future of retail, or anything for that
matter.
 Emerging technologies has begun to transform

the retail industry from different angles.
 New trends in the industry have pushed brands to

utilize artificial intelligence-based (AI) software and
tools to maintain their solid standing in today's
dynamic retail market structure.
RETAIL AND DIGITAL MARKETING
 With customers glued to internet-enabled devices, digital marketing becomes more important
than ever for retailers connecting with shoppers.
 Digital marketing is the marketing and advertising of a business, person, product, or service using
online channels, electronic devices, and digital technologies. A few digital marketing examples
include social media, email, pay-per-click (PPC), search engine optimization (SEO), and more.
 From a cross-channel perspective, email is still the most popular way to market to consumers,
83.7% of retailers surveyed in April 2019 by Internet Retailer use email for their digital marketing.
Social media is the runner-up with 65.8%.
 According to Forrester, companies will invest more than $140 billion on digital marketing, also
known as online marketing, in a few years.
ANALYTICS
 Studying analytics is vital to understanding

your customer. Information, like
demographics and customer traffic, allows
businesses to make smarter decisions
based on customer details, as well as to
personalize the customer experience.
 One example of this comes from Samsung,

which created a pop-up shop that can
share data with SMBs in real time,
TechRepublic's Olivia Krauth reported.
OMNICHANNEL RETAIL
 True omnichannel shopping goes beyond brick-and-mortar

locations to mobile-browsing, online marketplaces, social
media, and wherever your users browse online through
retargeting ads.
ARTIFICIAL INTELLIGENCE (AI)
 AI is automating and customizing the retail experience, aiming to make shopping easier for
the consumer.
 One major AI movement is the development of cashier-less stores. Amazon Go, a fully-
automated grocery store in Seattle, eliminates checkout lines and cashiers.
 When we say AI, we mean a number of technologies, including machine learning and
predictive analytics, that can collect, process, and analyze troves of data, and use that
information to predict, forecast, inform, and help retailers make accurate, data-driven
business decisions
 These technologies can even act autonomously
• Some other examples are:
1. Lowes Uses Robots To Locate Items

2. Walmart Deploys Robots To Scan Shelves
3. Uniqlo Can Read Minds With AI
4. H&M Uses AI To Keep Popular Items Stocked
5. Zara Streamlines Order Pickup With Robots, etc.
VOICE
 Voice activation AI is so popular it deserves a

separate bullet.
 Whether it's instructing your Google Home

to buy you things or asking Siri to search for
an item online, voice control has gained
popularity in the retail space.
 Voice activation is now even helpful for

retail employees: For example, with 'Theatro
,' employees can communicate throughout a
store via voice-controlled wearables.
AUGMENTED REALITY (AR)
 Augmented reality is completely changing shopping

experiences.
 Consumers can now virtually try on clothes or test

products via AR.
 For example, within Sephora's mobile application, users

can virtually sample makeup in real time.
 By placing filters over their live selfies, users can see

what makeup products would look like on their faces,
explained Solis in his
Leading Trends in Retail Innovation report.
VIRTUAL REALITY (VR)
 While AR is transforming the consumer retail experience,

VR is changing the business side, according to Forbes.
 VR is helpful for visualizing and redesigning stores, and

testing different layouts without having to physically
rebuild the store.
 Retailer Rebecca Minkoff is using VR to plan store

organization that is most convenient and logical for the
consumer's preferences.
VR Mirror
SENSOR DATA
 Sensor data is revolutionizing brick and mortar

retailers.
 The most popular vessel of sensor data is beacons.
 Major brands strategically place small beacon

sensors around their stores, which connect to
customer's phones if bluetooth is enabled and the
retail app is installed.
 With this connectivity, retailers can see how long

users are in their stores and what they pick up, as
well as offer personalized discounts based on that
information.
 Sephora uses beacons to offer users a map of the

store and offer promotions, said Solis in his report.
FACIAL RECOGNITION
 Facial recognition technology can help retailers

better understand customer preferences.
 According to Forbes, facial recognition can track

where customers gravitate within stores,
determine customer demographics, and even
prevent theft.
 By tracking where most customers first go in

shops, business leaders can develop a store
layout that is most productive for its clientele.
CLOUD SERVICES
 Inventory tracking, stock availability, shipping

details, and orders are all moving to the cloud.
 With cloud computing, retailers can cut the cost of

software development and process data at a much
faster rate.
 For example, Hallmark Cards uses the cloud-based

Retail as a Service solution that allows employees
check real-time stock availability, inventory,
shipping details, and store orders
SOME EXAMPLES OF TECHNOLOGY IN RETAIL
1. More cloud-connected machines, part of

the buzzed-about internet of things, are
coming to stores.
 As Starbucks baristas gave out free

samples at a makeshift coffee station
inside a Microsoft booth, screens
behind them displayed data like how
many cups the machines had brewed.

 This arrangement was no coincidence:
Starbucks has teamed up with
Microsoft to connect its coffee and
other machines to the cloud via
Microsoft's Azure Sphere IoT system.
2. Robots will become fulfillment centers’ model
employees.
 With
Amazon’s 100,000-plus robotic drive units a
big part of its fulfillment-center secret
sauce, rivals are eager to employ their own
robots to help fulfill online orders faster.
3. On shopping floors, drones will join robots as

new store employees.
THANK YOU

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NEW RETAIL TECHNOLOGIES &

THEIR IMPACT ON RETAIL

 The role of the technology architect today is

 And it's both innovation in terms of technology

 Emerging technologies has begun to transform

 New trends in the industry have pushed brands to

 Studying analytics is vital to understanding

 One example of this comes from Samsung,

 True omnichannel shopping goes beyond brick-and-mortar

 These technologies can even act autonomously

• Some other examples are:

1. Lowes Uses Robots To Locate Items

 Voice activation AI is so popular it deserves a

 Whether it's instructing your Google Home

 Voice activation is now even helpful for

 Augmented reality is completely changing shopping

 Consumers can now virtually try on clothes or test

 For example, within Sephora's mobile application, users

 By placing filters over their live selfies, users can see

 While AR is transforming the consumer retail experience,

 VR is helpful for visualizing and redesigning stores, and

 Retailer Rebecca Minkoff is using VR to plan store

 Sensor data is revolutionizing brick and mortar

 The most popular vessel of sensor data is beacons.

 Major brands strategically place small beacon

 With this connectivity, retailers can see how long

 Sephora uses beacons to offer users a map of the

 Facial recognition technology can help retailers

 According to Forbes, facial recognition can track

 By tracking where most customers first go in

 Inventory tracking, stock availability, shipping

 With cloud computing, retailers can cut the cost of

 For example, Hallmark Cards uses the cloud-based

1. More cloud-connected machines, part of

 As Starbucks baristas gave out free

3. On shopping floors, drones will join robots as

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