4 Innovative Trends to Look for in Retail Sector

Running a successful retail business won’t be a cakewalk for the new business owners and that is why, one has to stay agile, keep up with contemporary technological studies, and also make sure that customers’ demands are taken well care of. It also stands true that technology keeps on changing now and then, however, businesses that can adapt to the changing dynamics of the retail environment thrive by leaps and bounds.

By keeping in view the fact that the market is evolving, the retailers will have to adapt to the trends in demographics, tastes, and consumer preferences. In the changing retail market, everything is going to be defined by contemporary technologies that change the patterns consumers interact with their most favoured brands, a shift in choices, and the rise of the new competitive environment in e-commerce.

Here are some of the top innovative retail trends that are making waves in recent days.

1. Social Media Shopping

Some of the buzzing social media networks such as Instagram and Snapchat have explored new horizons for fashion bloggers, lifestyle coaches, and various other types of influencers. That is why; these platforms are now availing eCommerce capabilities such as shoppable tags for social media. Although shopping on social media might not be that much trendy yet, things may transform as sites allow users to load their credit card details on these platforms.

2. Shopping with Augmented Reality

The advent of mind-boggling technology is upon us as we observe the rise of augmented reality (AR), machine learning, and also, artificial intelligence (AI) in recent days. That is why retailers are making the most of AR technology to fill in the gap between the digital and the physical worlds.

Some of the industry giants in the retail industry have launched AR features that will allow shoppers to picture household items such as furniture in their homes. Besides, the fact that the AR market is anticipated to surpass billion dollars in volume, smaller retailers are lagging in the race.

To address the aforementioned issue, Shopify is striving its best to bring innovative retail technology accessible to smaller brands through its wondrous features. Some of these features offer an easy-to-use toolkit for small businesses to establish their own AR experiences to showcase their products to clients.

3. The Emergence of the Digital Mobile Wallet

One of the most emerging innovative retail industry trends is the use of mobile payment as a means of transactions. Some of the recent studies reveal that the overwhelming majority of the consumers are now moving into this innovative mode of payment.

Besides, some retailers are also walking the walk by following the latest retail industry trend and are thus offering seamless mobile payment options by adopting APIs. The recent surveys also suggest that a fair portion of merchants accept mobile payment as a mood of payment.

The sudden rise of the digital wallet shows that there is a rapid growing consumer demand for flexible payment means beyond Apple Pay. An increasingly large number of merchants are also weighing for other means of payment such as MasterCard PayPass and Android Pay (24%). Only a few retailers are not adapting to implement mobile payments shortly.

4. Multiple User Accounts and Features in POS Systems

While operating a retail business, you’ll have multiple people working your registers and that is why you need a system that helps you to create an individual user for each of them. In this way, you can easily track the sales that every person makes. The coolest thing about this feature is that it will allow you to set sales targets and identify thefts.

Meanwhile, you should also make sure that you get a system that enables you to secure each user with a password. This will allow you the opportunity to identify as to whether or not you need a user log-in for each sale that your employee makes.

Besides, the choice also varies while depending upon the way your store is run. In most of the mall stores, employees log in as the new sale initiate, because they are meant to move out from behind the desk as soon as a sale takes place.

Being a hospitality and retail point of sale solution provider, we believe in doing the best while covering a wide range of businesses. If you are interested in knowing more about us, visit our website JeMPOS.