In 2022, stores look and act much differently from three or four years ago.
Many stores have transformed digitally and remodeled areas, including fulfillment areas or, in some cases, entertainment areas.
Advancements in retail technology include:
- Mobile POS systems
- Contactless payment
- BOPIS / BORIS
- Assisted selling
- Interactive digital signage
Convenience will be the critical driver in retail this year. New contactless and mobile technology growth shapes the retail sector, creating better online shopping experiences and payment processes.
Customers are coming back to stores
Commerce trends show customers returning to stores as COVID-19 restrictions are rolled back.
However, customers are shortening their time in the stores by researching items ahead of time and coming in with a specific purpose. Data shows that 58% of in-store shoppers say it’s quicker to look up product information on their phone than to ask an associate; 64% of associates agree.
More retailers are transitioning to mobile POS systems to enable associates to check out customers on the sales floor and look up product features quickly.
Online shopping remains strong
Online shopping behavior will continue to accelerate as 75% of customers shop online at least once a month and 20% shop once a week.
With that, many retailers are adding virtual selling as a feature for 2022. Virtual selling allows associates to drive online sales and meet one-on-one with a customer for a personalized shopping experience.
Payment and fulfillment become contactless
COVID-19 has accelerated the demand for contactless payment options. Now, shoppers use their mobile devices to pay through apps like Apple Pay, Google Pay, Paypal and Venmo.
Self-checkout is very popular in grocery stores, with many brands going almost exclusively with self-checkout kiosks. Retailers expect to expand their self-checkout systems at a Compound Annual Growth Rate (CAGR) rate of 13% until 2027.
There is also a growing trend of retailers offering Buy Online, Pick-up In-Store (BOPIS) to give customers the convenience of shopping online, with the freedom of avoiding shipping costs and picking up the product at the brand’s nearest location. Similarly, retailers are offering buy online and return in-store (BORIS) to drive more customers in-store and allows them to return or exchange an item with ease.
The changing look inside stores
This new year is bringing a shift to in-store appearances with additional features and ways to attract customers.
New concepts have arisen like sporting goods stores configuring their in-store layout to add interactive experiences such as rock-climbing walls or putting greens to allow customers to try products out.
Stores are also taking on new technological advancements such as implementing interactive digital signage to allow customers to access product information, purchase items, pay and choose fulfillment or delivery option without assistance from an associate.
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