• IPC 2017

REINVENTING RETAIL

By GovernanceToday
In Technology
May 2, 2017
0 Comments
155 Views

technology-trend1With an aim to provide solutions and services that give enterprises  real-time visibility into their operations, Zebra Technology Corporation revealed the results of its Retail Vision Study for 2017. The research study analyses the technology trends shaping the future of the global retail industry and enhancing the shopping experience.  It further brings out the current challenges and untapped opportunities for retailers, and reveals the industry’s plan to adopt more Internet of Things (IoT), Artificial Intelligence (AI) and online platforms in Asia Pacific (APAC).  While releasing the report, Zebra also announced the availability of its new TCS series touch mobile computers and the DS2200 and DS8100 series handheld 2D scanners in India. The retailers in India may also expect increased visibility and productivity by using these new mobile computing technologies:

  • It offers to ensure seamless  73% of retailers plan to reinvent their supply chain with real-time visibility enabled by automation, sensors  integration, increased productivity and secure operations; the TC5 Series is supported by Mobility DNA, the industry’s most comprehensive suite of application security, development tools and mobile end-user apps. and analytics.
  • Enterprise functionality and durability of the TCS series that would ensure that it can withstand the rigors of field mobility duties. It also provides the operational ease of support for a better total cost of ownership (TCO), as well as the fastest, most dependable wireless connections inside or out on the field.
  • The DS8100 enables retailers to increase productivity of cashiers to shorten queues at checkout, as its superior scanning range enables cashiers to easily scan items in customers’ shopping carts without leaving the register. Stores are banking on the shift to phygital – the digitization of the  in-store experience –   to improve the  customer journey.
  • Small- and medium-sized enterprises can benefit from upgrading to the latest 2D scanning technology with the cost-effective DS2200 series scanners. 68% of retailers plan to Invest in smart  While briefing on the Zebra’ Retail vision, Deep Agarwal, Regional Sales Director – India, Zebra Technologies APAC said, “The retail industry is experiencing a convergence of the physical and online worlds – which we call ‘phygital’. Shoppers today are technology-savvy and have high expectations for a digital and connected shopping experience, creating both challenges and opportunities for retailers vying for sales on all platforms. As the omnichannel approach picks up steam, implementing the right visibility technologies from the warehouse to the storefront is instrumental in fulfilling orders, scheduling for fast deliveries, and personalizing the experience for different shoppers. Zebra is committed to helping customers strive in the dynamic retail landscape by bringing to them technology that facilitates a successful omni-channel transition and offers increased visibility into their operations, associates, inventory, and shipments.” 88% of retailers will implement buy  online, pickup in  store by 2021.
    The continued rise of online shopping will further build the momentum for an omni-channel retail format, challenging retailers to provide unprecedented levels of convenience to drive customer loyalty. In Asia Pacific, 88 percent of retailers expect to support buy online, pick-up in store within the next four years to further increase omni-channel shopping. Retailers that incorporate data analytics into their business operations are poised to generate an estimated 5 percent productivity gain than their counterparts.  Sophisticated analytics platforms can translate market-basket data into executable insights for retailers who can then adjust their merchandising strategies .
  • By 2021, nearly 76 percent of retailers in APAC will be able to customise the store visit for customers as a majority of them will know when a specific customer is in the store. This will be enabled through technology such as micro-locationing retailers to capture more data, accuracy and customer insights.
  • Retailers are looking to create a seamless shopper experience with 76 percent of APAC respondents reporting that it is important or business-critical to integrate e-commerce and in-store experiences.
  • To speed up checkout lines, retailers are planning to invest in mobile devices, kiosks and tablets to increase payment options. In APAC, 86 percent of retailers will deploy mobile point-of-sale (MPOS) devices by 2021, enabling them to scan and accept credit or debit payments anywhere in the store.
  • Eventy-two percent of retailers in APAC rate managing big data as important or business-critical to their operations.   Many of them anticipate investing in predictive analytics, software analytics for loss prevention and price optimization, and cameras and video analytics for operational purposes and the customer experience. According to the survey, the top sources of shopper dissatisfaction include inconsistent pricing between stores and the inability to find a desired item, whether it’s out of stock or misplaced within a store.  73 percent of retailers plan to fix these issues by reinventing their supply chains with real-time visibility enabled by automation, sensors and analytics. Retailers are investing heavily in revamping the supply chain, with a laser-beam focus on tracking the status of  items n their way to customers. They are also adopting enhanced visibility in the form of RFID technology into their supply chains and cut cost in a long run.  RFID can increase inventory accuracy from 65 percent to as high as 95 percent, while reduce out-of stocks by 60 percent to 80 percent. Item- level RFID also generates hikes in the number sale items per transaction by as much as 19 percent, and a rise in the number of transaction by 6 percent.

Leave a Reply

Your email address will not be published. Required fields are marked *