Augmented Shopping. The trends we see on the horizon for Industry 4.0 in 2020 … Leading departmental store, Noordwijk, employs digital labels through the men’s and ladies fashion sections in order to drive sales and enhance profits. VR training. It means that I spend my life learning about what drives people to adopt new technology so I can share those secrets with companies that are ready to take their business to the next level. That’s why, Even beyond augmented reality, we’re going to see an increasingly confusing mix of digital/virtual and reality in the coming year, especially in retail via the, EY & Citi On The Importance Of Resilience And Innovation, How Digital Workflows Helped Save Basketball During The Pandemic, Impact 50: Investors Seeking Profit — And Pushing For Change, Michigan Economic Development Corporation With Forbes Insights, SAP’s Alicia Tillman On Improvising A Marketing Plan During A Pandemic, Brands Wrestle With The Renewed Allure Of Promotions. Yes, in 2020 we will also continue to see smaller stores work to compete for a piece of the pie against Amazon, which is crushing the market. Top 3 trends for digital transformation in the retail industry. But these new technologies and strategies, when used effectively, may be enough to win a bigger piece of the retail pie and e-commerce pie. Additionally, he’s qualified for start-up engineering and machine learning. Nissan, a popular automobile brand has introduced the option for buyers to select engine model, interior and exterior vehicle color, and so on. All rights Reserved. His cross-industry domain expertise along with his experiences in formulating digital strategy, planning, business alignment, architecting, value- & ROI-driven execution, and innovation, sets him apart as a highly sought after thought leader. Apart from clothing brands, there are other retail brands too who have chosen product customization as their digital transformation strategy. But for 2020, I see some more significant trends moving the industry forward. In digital transformation, consumers love a seamless experience. Retail organizations have never had an issue collecting lots of data, … Digital Transformation (DX) is a global phenomenon across many industry sectors. Making this the medium of their digital transformation are retailers like Alibaba, Ikea, Tesco, Cisco and Adidas. Rajesh is a firm believer in innovations and solutions that employ unorthodox ways of leveraging digital media, which yield unique actionable insights. I see this as the next wave of social and retail integration where 360 data brings better experiences to customers through better data utilization. Product customization combines different forms of on-demand manufacturing technology to meet the need for personalized shopping experiences of customers. Her technical prowess and brilliant sales and leadership skills have transformed small and large enterprises alike. Vic Gandikota specializes in solving the sourcing and staffing concerns for global companies. After completing his Bachelor’s in Mechanical Engineering from Pune University, and Master’s in Marketing from Symbiosis, was fully equipped with the skill to place visionaries exactly where they would flourish. So what does this mean? $83M+ Raised And Counting In 2020: Are Twitch Streamers The New Philanthropists? Here you can change your Privacy preferences. While the challenges are many, digital transformation in retail … … 60% retail shoppers make it a point to scan the QR codes to access more product information today. Transformation for the digital age: The Future of Retail To stay relevant and compete as the retail industry evolves, retailers need to re-imagine their customer experiences and business processes from the … Armed with a Master’s in Business from IIM and one in science from IIT, he manages large-scale telecommunication projects for Verizon. Their factory at Alabama does exactly this-manufacturing apparel based on unique size patterns. Inventory tracking, stock availability, shipping details, and orders are all moving to … 2020 will be the year where it is virtually unnecessary to see, feel, or test a product in person before you feel confident enough to buy it, thanks to augmented reality. This trend will only be further zeroed in on by the best retailers in the future. In the modern retail ecosystem where the consumer is in control of…, 6 Types of Product Recommendation Engines Your Retail Store Needs The retail…, The most striking trend witnessed by the retail industry in recent times…, Subscribe to the latest news from InfoVision, 2020 © Copyright InfoVision. FDA Authorizes A Second COVID-19 Vaccine. Quite a few clothing brands such as Uniqlo, Lacoste and American Apparel have opened virtual showrooms and fitting rooms to allow customers to try on their outfits in virtual spaces. Amazon Prime taught us that shoppers are no longer willing to wait more than two … The lines between digital and physical retail experience will soon be history thanks to digital transformation happening across the retail industry. The motivational factors for customers remain the same, goods at a reasonable price, available as soon as possible and for many even delivery to their doorstep. Virtual Reality(VR) creates a simulated environment that makes it different from AR. I explore all things Digital Transformation. While we believe the content remains of interest, it doesn’t take into account major events since that … The question now is whether smaller retailers will be able to keep up with the expense. Currently, she is the Director of Business Development, where she delivers measurable results for our Fortune 500 and 100 clients. I’ve seen examples like Chico’s utilization of SAS for advanced retail analytics that allowed the company to consolidate omni-channel customer data in 2 hours rather than 17 hours enabling more rapid delivery of timely offers and less stress on infrastructure. Visual search on the other hand is a retail trend that allows shoppers to find and buy a product just by snapping a photo of the product. The digital shelf labels provide an in-stock status which helps the sales staff steer customers in the right direction or give further advice based on the need. After completing her graduation from The University of North Texas, USA she dove deep into the world of operations management and business development. Being able to take a photo of a dress you see someone wearing on the street -- to be able to click the purse that your favorite social media influencer is holding in her latest Instagram post -- those are the things that are going to keep e-tail booking in 2020. 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