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Applying technology to retail will take the throne.

 

   These will be tools to help retailers get out of the current market supply chain mess.

Smart retailers always expect the most advanced technologies. This year, with labor shortages, chaotic supply chains, and changing customer habits, this demand is increasing.

Laura Kennedy, senior retail and consumer analyst at technology company CB Insights, said that technology tools in general, and automation in particular, will help ease the pressures of workers. These apps will make sales operations smoother and more efficient.

Here are 3 trends in applying technology to retail that retailers need to anticipate in 2022:

1. Set product prices using algorithms.

Kenney said that with what happened recently, retailers need a technology to optimize prices and help track the quantity of goods. This is even more necessary when the market is very volatile and the supply chain is constantly facing difficulties.

In it, she notes that electronic stickers can help stores quickly update prices whenever there is a change. In addition, Kennedy also predicts technologies and algorithms that support price personalization will also take the throne. For example, a tool that helps deliver promotions to a small number of shoppers.

2. “Headless” tools.

“Headless” commerce tools are architecturally built software that separates what the customer sees (the front-end interface) from what belongs to the core commercial functionality that only the seller can afford. Retailers see as payment processing and inventory tracking (back-end software).

Basically, this technology makes it easy for retailers to do business on many different platforms. It’s also what makes the difference between buying directly on a retailer’s website versus buying through TikTok or Pinterest without leaving these apps.

So technologies that meet their needs, make it easy for them to shop, will become the focus.”

3. Smart shopping cart.

When retailers hear about POS technology, they usually only think of stores without Amazon Go cashiers with an app payment model, no need to queue. However, according to Kennedy, retailers should now be quick to update this type of technology.

Grocery chain Kroger, for example, has equipped smart shopping carts with built-in cameras and scales. Therefore, customers can manually scan the product code and package when placing the goods in the cart, then pay directly with the cart and leave the store through the self-checkout area. Kennedy said other stores will quickly adopt such technologies.

“It’s very difficult to fully adopt technologies like Amazon Go’s, because the number of stores is so large,” Kennedy said. So this is still just what we can observe. Of course, technologies like smart shopping carts still need to be scaled up anyway.”

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