Home Retail Businesses Top Trends That Can Help in Transforming Retail Businesses in 2020

Top Trends That Can Help in Transforming Retail Businesses in 2020

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In the current generation, technology is turning around the way companies run their businesses. Retail businesses have taken advantage of technology. This has helped them to improve their services and quality of products thus saving money and improving the competence within the organization.
Leading technology trends transforming retail businesses are.

Predictive analytics
Retail businesses generate and collect a lot of data on a daily basis. The data collected is useful in identifying the deeper needs of clients and have an awareness of how to transform the business into a big business.
Unfortunately, this data is always not useful to them since it can’t help in solving client’s problems or meeting the demands of clients. The use of predictive analytics has helped in solving this by acquiring and analyzing information. Such data is useful in the tackling of client’s needs, understanding how clients buy goods and decreasing supply chain cost.

Micro moments
Google, Mozilla Firefox and other search engines have been of great help in retail businesses. Retail businesses have taken this to their advantage as they can now advertise and post others customers moment and help other customers find the same exact moments.

Order fulfillment automation
Automated systems are becoming the most fascinating solutions to cope up with human worker trends in warehouses. Businesses are switching to the use of automated mobile robots, since they can improve the adjustability and increase performances in businesses. Amazon has created a lot of dominance in the industry by the use of automated mobile robots. Research shows that by 2025, 580,000 automated mobile robots will be stationed in different warehouses to enable achieve the tastes and preferences of consumers.

Robotic store assistant
In San Francisco, Lowes store have established LOWEBOT a robot that is capable of guiding customers to finding products in the shelf and scanning products for them. Robot store assistants are taking over retail stores where they assist in solving lots of customer’s problem that human employees can’t. Softbank robotics have manufactured Pepper. This is a robot that is capable of assisting customers in looking for products in stores and advertising offers to customers via email.

Recommendation engines
Recommendation engine is the new tech that is increasingly trending with time. A report conducted by McKinney and company proves that 35% of amazon purchases are because of recommended products done by a machine learning algorithm that analyzes previous data. Recommendation engines are of great help since they help the customers in acquiring products that they don’t think they need yet they need. Netflix is a good example of a recommendation engine that people are used to.

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