Companies that begin to implement big data analytics successfully can reap rich rewards from cost-saving efficiencies and revenue-generating innovations. Big Data will enable businesses to achieve a digital transformation, allowing them to maintain competitiveness in the face of any disruptive startups—which are data-driven almost by definition—that spring up in their markets.
RFID technology is enabling retailers to become more nimble and knowledgeable about their consumer’s needs. As retailers are showing examples of adoption to the ever-changing needs of today’s empowered consumer, RFID technology is playing a more intricate role in the core of IT projects.
We will begin to witness that retailers are going to become far more flexible in how they engage with shoppers. Physical and virtual – to change a lot more as retailers really now embrace the realities that their shoppers want very different experiences and to shop in very different ways.
The shift to the connected consumer shows no signs of slowing down, and buying habits are transforming. Retail isn’t just about when customers are ready to buy anymore– it’s a constant engagement with technology and experiences that drives the future of commerce.
UHF Gen2 RFID Technology is providing retailers with new opportunities to reduce cost, boost consumer satisfaction and raise revenue. The new age RFID landscape enables organizations to access to more accurate and frequent inventory data. This allows both retailers and vendors to improve the product availability and cut back on inventory costs.
Exceptional service is a must for an ideal shopping experience. To thrive in today’s competitive environment, retailers must exceed service standards. Exceptional service standards include logistics, which play an even greater role in the consumer experience now as shoppers expect faster shipping, flexible delivery options including in-store pickup, and traditional in-home delivery.
By 2020, the retail shopping experience is expected to look dramatically diverse than it does today. It’s being reshaped, with FinTech pioneers and futurists, by the accelerated pace of new technology and changing consumer shopping patterns. The market urges retailers to begin planning for that future now.