CMS IT Services, a Bangalore-based Leading Managed Services company has released their CXO Guide on the retail sector. The retail sector is postulated to be a blend of the virtual and the real in the next decade. Augmented by a host of digital tech the world of retail will create personalized shopping experiences driven by AI, data, omnichannel assistance, etc. Self Service Technologies (SSTs), Unmanned Aerial Vehicles (UAVs), Gamification Tools, Beacon, and Haptic technologies as well as a host of other top-tier tech backed by AI/ML, IoT, predictive analytics, etc. will reinvent retail and tailor it to suit the ever-evolving needs of the public.
The guide also draws attention to direct-to-consumer (D2C) models and technologies that will impact the industry in 2022. These include
- Point-of-Sale Integration via SaaS Cloud-based ERP Solutions
- AI/ML-driven big data and Vertical SaaS insights
- Virtual Trial Rooms, Smart Mirrors, Interactive Interfaces, 3D feature-analysis etc leveraging AR/VR technology
- IoT networks will reduce human interactions in ‘Just Walk Out Stores’ that will auto-collect payments.
- Conversational AI, NLP, Augmented and Virtual Realities can create virtual or robotic ‘salespeople’
- Hyper Automation, Customer data tracking and secured payment portals
According to Anuj Vaid, Executive Director, CMS IT Services and author of the guide, “Moving forward, advancements in multiple emerging technologies will converge to create unprecedented value. It’s up to us to anticipate and make the right strategic technology choices. The retail sector is no different. Ecommerce has forever altered the customer’s perception of retail. Leaning on tech to elevate customer experience is the sure-fire way to keep them interested”
- The latest chapter dissects technologies that will redefine retail in the coming years.
- Technologies discussed include ERP, Customer Data Integration, AR/VR and SSTs.
This is the latest edition and earlier CXO guide which was released were focused on Manufacturing, Edtech, Government and Finance sector.