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Top Retail Companies

Retail Technology

Retail technology is an ever changing beast. More powerful microchips, higher definition screens and fantastic new software drives this market, with the end product being a wealth of big data. At Valley we have been at the cutting edge of this technology for many years and are lucky to have some very prominent partners to support our innovation.

Top technologies leading digital transformation in retail

Digital marketing

With customers glued to internet-enabled devices, digital marketing becomes more important than ever for retailers connecting with shoppers. Whether it’s digital coupons, virtual storytelling, emails, or increased ads, companies are upping their digital marketing game. In fact, the highest area for brand spanking new spending in business is digital marketing, consistent with Gartner’s 2018 CIO Agenda: Retail Industry Insights.

Analytics

Studying analytics is significant to understanding your customer. Information, like demographics and customer traffic, allows businesses to form smarter decisions supported customer details, also on personalize the customer experience. One example of this comes from Samsung, which created a pop-up shop which will share data with SMBs in real time, TechRepublic’s Olivia Krauth reported.

Omnichannel retail

Omnichannel commerce may be a multichannel approach to shopping that aims to form the customer experience more seamless across in-person and online channels. Walmart is jumping on the omnichannel train with it’s order-by-text service, TechRepublic contributing writer Jonathan Greig reported. This delivery service allows customers to order goods via text message to extend convenience. Another example is Neiman Marcus’ Snap Find Shop app, during which customers can take an image of an item within the store and appearance for it or similar items online, TechRepublic’s Dan Patterson explained.

Artificial intelligence (AI)

AI is automating and customizing the retail experience, getting to make shopping easier for the buyer . According Deloitte, over a 3rd of major brand leaders are using AI to enhance business. One major AI movement is that the development of cashier-less stores. Amazon Go, a fully-automated grocery in Seattle, eliminates checkout lines and cashiers. Amazon is about to open two more stores in San Francisco and Chicago, Techrepublic’s Alison DeNisco Rayome reported.

Augmented reality (AR)

Augmented reality is totally changing shopping experiences. Consumers can now virtually try clothes or test products via AR. for instance , within Sephora’s mobile application, users can virtually sample makeup in real time. By placing filters over their live selfies, users can see what makeup products would appear as if on their faces, explained Solis in his Leading Trends in Retail Innovation report.

Virtual reality (VR)

While AR is transforming the buyer retail experience, VR is changing the business side, consistent with Forbes. VR is useful for visualizing and redesigning stores, and testing different layouts without having to physically rebuild the shop . Retailer Rebecca Minkoff is using VR to plan store organization that’s most convenient and logical for the consumer’s preferences, Solis said.

Cloud

Inventory tracking, stock availability, shipping details, and orders are all moving to the cloud. With cloud computing, retailers can cut the value of software development and process data at a way faster rate. for instance , Hallmark Cards uses the cloud-based Retail as a Service solution that permits employees check real-time stock availability, inventory, shipping details, and store orders.

CIOReview’s “Top Retail Companies

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