Back to the Future: 5 Predictions on How the Retail Industry Will Evolve
New technological developments and the latest retail trends have redefined the meaning of ‘shopping’ by creating unique customer experiences. Today, shopping is no longer a monotonous task for consumers with retailers leaving no stone unturned to enhance their shopping experience. Furthermore, the retail industry’s steady migration to online e-commerce platforms has made it vital for brick and mortar retailers to give their customers a reason to come back to the store. Consequently, several retail companies have increasingly turned to modern technologies to help them revolutionize the future of retail. The retailers who thrive in the next decade will be those that re-imagine and align their stores with the digital age. Based on the retail trends and developments in retail technology, industry experts at Quantzig have curated some of the key retail industry trends that will redefine the future of retail:
End of long-checkout queues
Bidding adieu to long checkout queues will be one of the most prominent retail trends that will go mainstream in the next couple of years. The future of retail will look more promising than ever before by helping avoid queues and providing customers with a hassle-free shopping experience. Retailers are also looking at the feasibility of payments made via a virtual shopping cart rather than an old-fashioned checkout line. Once this is rolled out to retail stores and becomes fully operational, long queues in checkout counters will soon become history.