Apr 10, 2017A study conducted worldwide by Zebra Technologies Brazil and released in São Paulo indicates that 70 percent of retailers plan to invest in Internet of Things (IoT) technologies to improve the customer experience. By 2021, the study indicates, smart technologies will provide consumers with new levels of customization, speed and convenience.
"From store aisles to warehouses and shelves, retailers are promoting these changes in a dispute to better serve customers," says Vanderlei Ferreira, Zebra Technologies Brazil's country manager, highlighting the rapid flow of retail changes around the world. "The study demonstrated that retailers are poised to meet and exceed customer expectations with new levels of customization, speed and convenience."
Zebra's "2017 Retail Industry Study" examined the technology trends that are shaping the future of the global retail industry and enhancing the consumer shopping experience. The survey showed that nearly two-thirds of respondents who are responsible for retail decision-making are ready to adopt technologies related to the IoT concept.
According to the data, 65 percent of respondents plan to invest in automation technologies to ensure inventory management and compliance by 2021. Research shows that continued growth in online shopping will challenge retailers to offer unprecedented levels of convenience for customer loyalty. "By 2021," the study indicates, "65% plan to explore innovative delivery services, such as those made in workplaces, homes and even in parked cars."
In addition, approximately 80 percent of retailers will be able to customize shoppers' visits to their stores by 2021, according to the study. Most will know, for example, when a particular customer is inside their establishment. This will be enabled by technologies such as micro-localization, which allows users to capture more data accurately and have more knowledge about buyers.
Retailers indicated they seek to create a problem-free shopping experience, with 78 percent reporting that it is important or essential for businesses to integrate e-commerce and experiences in physical environments. In order to reduce queues, Zebra also noted, retailers plan to invest in mobile devices, kiosks and tablets to increase the range of payment options. A total of 87 percent of retailers intend to deploy mobile point-of-sale systems by 2021 to account for products, and to accept credit or debit card payments anywhere in the store.
Of the retailers interviewed, 73 percent said they classify big-data management as important or essential to their operations. At least 75 percent predicted that they will invest in predictive and analytical capabilities by 2021 to prevent losses and optimize pricing, and that they will develop analytical capabilities for cameras and video for operational purposes, and to improve the overall customer experience.
According to the survey, the main sources of customer dissatisfaction are inconsistent store prices and the inability to find a desired item—either because goods are not in stock or because they are at the wrong location within the store. The report data reveals that 72 percent of retailers plan to fix these problems by reinventing their supply chains with real-time visibility made possible by automation, sensors and analysis. Already, 57 percent of retailers believe that automation will shape the industry by 2021, helping them to package and ship orders, track merchandise, monitor in-store inventory levels and help customers find the items they seek.
The survey reached 1,700 retail decision makers from North America, Latin America, the Asia-Pacific region, Europe and the Middle East, in a broad spectrum of retail segments, including specialty and department stores, clothing, electronics and drugstore networks. The consultations took place in 2016 and were conducted by research companies Research Now and Qualtrics.