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Global Retail Technology – An Overview

By Bareerah Shoukat

Many retail businesses are claiming their stores to be providing the next generation of retail experience. For these businesses, it is important to deliver what they claim to offer because retail is a cut-throat industry. The success depends on how well you can stay ahead of your competition, and for better results, employees and managers are using the latest global retail technology. 

Whether you work for retail sales, on the floor or behind the computer screen, every person in the industry should be familiar with the latest retail technologies to stay ahead of the game.

In UK 2021, internet retail sales have seen an increase of 1.99 billion British pounds.

So, in this blog, we’ll brief you on global retail technology with some examples, top trends, and share with you how video can be used in the mix to fasten up adoption.

 

What is Global Retail Technology

Technology such as digital automation is taking strides by the day, which has positively impacted many industries, including the retail industry. So, to define the global retail technology, we can say

“It is an implementation of digital solution and innovations in e-commerce processes and retail.”

From check-out to inventory management to fulfilling different in-store facilities of the retail industry, the customer experience should be satisfactory, not only meeting but exceeding their expectations. The in-store retail tech includes the usage of AI-powered smart mirrors and self-checkout. Behind the computer is the inventory management system with different cloud software or CRM tools.

a girl using mobile global retail technology

 

Lush’s App Store - An Example!

The store opened in late 2018 in Harajuku, Japan, with a minimalist look that is captivating to the eye and could be captured aesthetically in photographs. It is dedicated to different bath products like soaps, bath bombs, towels, etc., displayed on sushi-style conveyor belts.

Then, comes in the technology – a person selects the product based on its size, color, or scent and scans the product with the Lush app’s feature “Lush Lens”. Scanning the bath product with the app revealed its description detailing ingredients, properties, benefits, etc. Plus, the app also provided customers with recommendations based on the scanned product.

 

Trends For Global Retail Technology

In trends, we will discuss the latest global retail technologies that are all the rage these days. It is best to use these with adjustments based on your desired target market, audience buying behavior and preferences.

  • Mobile-centric Retail Experience

    Shopping on mobile is now the new norm. Mobile-centric retail technology helps buyer shop at home for their favorite products. The feature of click and collect is hot in town where all you have to do is click the product on your mobile and pick them up from a centralized collection point without any waiting. Furthermore, you need to have your website mobile compatible and SEO-optimized. The products should be visible on search engines like Google for traffic and sales opportunities.

  • A-Commerce Technology

    Automated commerce is a process of automating the traditional retail methods, which includes:

  1. Automatic purchasing to automate the purchasing decision of shoppers
  2. Marketing automation to use customers data to increase ROI
  3. Process automation for cashiers to record serial numbers, do ID verification and much more
  • Retail Ecosystem

    In a retail business, you have several tools like POS system, shopping cart, accounting software such as CRM, ERP and others to handle the records and databases for different information. For that, you need a single solution like an app or a platform that connects everything, so the data is kept flowing smoothly. The mechanics of the technology can be taught via video to train your employees

  • Contactless Payment

    During the pandemic, this came out to be the most suitable payment method. The trend is not new; however, the pandemic definitely accelerated its growth globally with a 46% rise in usage. You can even market it on your social channels to attract the health-conscious public by informing them that you are taking all the necessary precautions.

  • Artificial Intelligence

    AI enables you to forecast trends, make smarter decisions, and establish stronger connections with your customers. There are several advanced analytics platforms in the market that use AI to generate trends and insights from marketing & sales content interaction and buyer behavior at point-of-contact.

 

Video For Your Global Retail Technology

Video plays a critical role in allowing the usage of global retail technologies to increase. They not only help employees keep up with the latest technology trends but also are used to create more engaging retail sales training courses for employees to quickly learn new software, processes and marketing methodologies.

Videos allow for better information retention – much more than a boring text-based course. An employee can look back at it whenever they want. These courses can be accessed on any device, shared easily, and, above all, help in engaging both the customers and the employees. Overall, the use of video will boost employee productivity.

girl capturing a photo of product

Read more: Fashion retail sales training via video

 

VIDIZMO – Video Training Platform to Speed Up Your Digital Transformation

As a Corporate YouTube-like video content management system, VIDIZMO lets you use videos for creating retail training courses to speed up the adoption of global retail technology by effectively training your employees.

 

You can use videos for live and on-demand streaming for internal and external users. Plus, you can manage these through a variety of features.

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See a Live Demo of  What You Can Create Using VIDIZMO

Make the most of interactivity to make these engaging and communicate your product information with visuals. Live stream recorded training sessions and take out clips to create asynchronous courses from them. Be sure to auto-transcribe these courses and help your team quickly find the right information  via AI-enabled smart search.

Not only that, you can securely embed your videos on your site and integrate with different existing IT systems like LMS, Zoom or MS teams for a centralized video management.

Not just for training, VIDIZMO is fufills a variety of video use cases and provides end-to-end video management features from upload to storage to streaming to sharing.

Try VIDIZMO for free today or contact us to ask away any information.

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Posted by Bareerah Shoukat

Bareerah is a product strategist at VIDIZMO - An expert in video streaming technologies. She helps businesses create marketing content that connects with their audience.

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