In the present era of technological advancements each sector is growing at a fast pace. Retail is one of those sectors that are transforming its face. Well, change of technology is not a comprehensive change rather these are iterations of old technologies. Few of the latest technologies that have emerged in past few years in the retail sector are drone, robotics, e-commerce anti-fraud tools, and many more. Bit coin and block chains are the major advancements appeared in the recent past years.
Few these are certain advancements in the retail sector which haven’t got worldwide acceptance by folks; actually folks are not much familiar with such technological advancements. Robotics was included more and more in software sector but slowly it created its space in the world of retail.
Retail is constantly transforming its face and now with latest four revolutions a great enhancement has been noticed in this industry. With the help of modern technologies, retail has grown so far and has evolved a number of advancements. Digitization and modern technology are two major reasons for the steady growth in this sector. Retail sector comprises of multiple procedures, such as inventory management, purchase, supply chain management, accounts, customer service, and many more.
In past days each of these tasks were done manually and were really time consuming but with the technological advancements each of these tasks are automated and also has given perfect communication channels to enhance customer services and keep the brand connected with targeted audiences and existing customers.
Dated back to the 1980’s and early 1990’s, shopping was a really time consuming but hectic task, when every folk used to walk into various shops to find a perfect match of their requirement, but still half of the customers returned unhappy and unsatisfied. But then a sudden change was seen in the shopping method of folks with the emergence of online shopping portal such as Amazon. In the initial days, when online portal was launched, hardly people were familiar about this new advancement of technology and retail sector. The transformation of shopping method from outlet shopping to online shopping took a good sum of years to be adopted by the folks all-round the globe.
Changes made by online shopping platforms in retail sector:
This highly competitive world totally depends on show off. Audience always wishes to watch something better something creative, and day by day ad’s creativity is increasing, making it attention seeking, but does attention is enough to convince the audience to avail your services or buy your products? Not of course. Today’s audience is really practical and they don’t like to opt new things until it connects with them in any manner. Just an ad is just an informative piece that makes your audience aware about your products or services but a sensible and sensitive story helps each of your targeted customers to connect with your brand emotionally and bring them closer to it.
It is predicted that 80% of any company’s revenue can be generated only by the 20% of its targeted audience and the challenge that retail sector faces today is to convince that 20% audience to turn into user.