Due to the latest technology innovations to hit the market, today’s retail environment is changing at an unprecedented rate. From robots that can identify shoppers’ purchasing habits to immersive virtual reality experiences and the increased popularity in BOPUS, the shopping experience has dramatically evolved in recent years.

Consider this: if the average shopper were to hop into a DeLorean time machine, travel back in time to the early 1990s and shop for a sweater; they wouldn’t be able to shop online or through a mobile app. Instead, they’d be forced to drive from store to store, aimlessly perusing through aisles and asking sales associates to check store inventory stock via a paper ledger. That shopper would quickly realize just how big of a difference technology makes in the shopping experience.

As remarkable as today’s shopping luxuries may have looked 30 years ago, innovation is only set to continue. In addition, the difficult and on-going COVID-19 pandemic has highlighted the need for technology-based solutions to meet current demands. Organizations that want to keep up with customer expectations and keep pace with this speed of innovation must find new methods to reach their consumers and provide seamless, shopping experiences. Below are the top four emerging technologies that are transforming the retail experience.

Boost employee experiences with mobile

While consumers have always been at the front and center of the retail industry, it’s also important that employees have great retail experiences as well. As much as consumers depend on their mobile devices for a better shopping experience, so do employees. One of the ways retailers are redefining the employee experience is by adopting digital workspace technologies that enable employees to use mobile devices at work, whether that’s in-store or at home.

This fact has only intensified since the outbreak of COVID-19, as employees have seen an increased dependence on mobile devices to communicate to their employees (in-store and remote) with the constant updates on store procedures and services. And for employees who have shifted towards a work-from-home structure, they’ve become reliant on Virtual Desktop Infrastructure to access their workspace even while they’re away from their typical physical office.

Being able to provide workers with connected services on their first day of the job and quickly integrate them within the company greatly improves the employee and customer experience right out of the gate. This allows employees to seamlessly access schedules, paychecks and task management tools easier than before. At the same time, these mobile technologies create better customer engagement — employees can improve the shopping experience for customers by conducting cashless transactions and provide immediate access to product information.

By providing increased levels of mobility (via smartphones, tablets, etc.), retailers can arm their employees with the necessary tools to make their jobs easier, improving employee experiences and overall retention.  

Unlock the full potential of retail with IoT

While IoT is far from a new concept, it remains a fundamental component of innovation. As an umbrella term for a broad range of capabilities, IoT accounts for emerging technologies across nearly every facet of the retail experience; from stocking shelves to self-machines. As radio frequency identification tags, foot-traffic counters and mobile devices analyze and continually communicate data through networks, IoT is at the core of everything that is taking place in the retail environment.

According to research, the global market for IoT hardware for retail applications is expected to be worth more than $94 billion by 2025. These metrics highlight the emphasis retailers are placing on IoT. On the front end, this accounts for personalization solutions, in-store product layouts and smart shelves.

On the back end, IoT-enabled technologies can monitor goods throughout the entire supply chain journey. As a result, organizations have increased visibility on quality control and can closely observe location, temperature and stock of their goods. While IoT will continue to impact all industries, retailers have only scratched the surface of what they can accomplish through its capabilities. With 5G now experiencing large scale adoption and networks of interconnected devices become more common, retailers will only further rely on IoT for improved shopping experiences.

Cashierless shopping is here to stay

Surveys show that the checkout line is one of the biggest customer pain points when it comes to in-store shopping experiences. Whether it’s the result of a long line, a slow cashier or someone with a large number of items, the checkout process is one that is most consistently susceptible to pain points. Given these grievances, it’s not surprising that retailers are looking to technology to ease this process with “cashierless shopping.”

Amazon launched its version of a cashierless grocery store chain — “Amazon Go,” while Walmart has rolled out its “Scan & Go” service. By utilizing a combination of cameras, shelf sensors and software, companies are identifying new ways to expedite in-store payment processes. As consumers increasingly prioritize convenient experiences, we can expect other major retailers to follow this trend and integrate cashierless solutions within their stores.

Virtual shopping be comes a reality

It’s no doubt that the e-commerce industry has grown immensely over the years. With such a heavy emphasis on personalized experiences, businesses have been eager to identify new ways to engage with customers. However, creating these new methodologies to enhance engagement can often be challenging in an industry that almost entirely functions online.

The global market for VR and AR in retail is estimated to reach $1.6 billion by 2025. Meanwhile, Gartner estimates that nearly 100 million consumers will have an AR shopping experience either online or in-store this year.

To help deliver personalized experiences, retailers are leveraging immersive technologies like AR and VR to help bring a product to life. Through these technologies, consumers have the capabilities to project products or go on virtual tours, all from the comfort of their home (i.e. Wayfair and Ikea with AR-enabled shopping, allowing buyers to visualize furniture in their own home before purchase). Rather than browse webpages and rely on generic videos and images to gauge products, consumers can view products in a 3D environment.

Tech will drive the future of retail

As new technologies continue to explode across the marketplace, consumers demand that their shopping experiences follow suit. Retailers are expending resources at unprecedented rates to minimize customer friction, improve customer experiences and improve overall efficiencies. Retail businesses that leverage emerging technologies like AR/VR, IoT and mobility can offer more convenient, engaging and personalized experiences across the entire customer journey. Those who fail to adopt these technologies will find themselves failing to accommodate the growing demands of consumers and employees alike.  

Ed Durbin is global director of retail solutions, end-user computing, VMware.