Digital transformation can accelerate a brand’s offering and bring convenience to the fingertips of retailers and consumers. Many big retailers are investing in retail tech in order to streamline their services and ensure they remain relevant in bricks and mortar stores across UK high streets. Existing Ubamarket research has found that 53% of consumers prioritise convenience as their utmost priority when shopping in stores. Retail tech delivers the convenience which is so sought after by consumers.
Retail tech not only benefits consumers but also makes working life far easier for employers and employees by simplifying processes and streamlining workflows. Giving employees retail tech in the workplace will enable them to work more productively with systems that are easy to use and have automation features making the business model more productive as a whole.
There are four key benefits for retailers who incorporate retail tech into their offering:
- Gain insight into what is happening across the supply chain
- Get consumers to alter their own behaviours through nudges from personalised offers
- Monitor long term behavioural changes
- See, understand and act on the actions you see
Retailers have a responsibility to both themselves and their customers to revolutionise by responding to market shifts whilst driving business operations to their maximum. Being equipped with the right tools will allow companies to become more competitive, as a result of being equipped with the tools to do so.
With clear benefits for the retailers, and our research revealing that 17.5 million consumers want in-app consolidation, smart in-store tech is no longer a ‘nice to have’, it’s a necessity.
