Retail Technology Trends in 2019 – I guess it is hard to predict where technology is going to take us, fashion retail wise. And still, we can form an educated idea of what the future might hold, by looking at the top 5 retail technology trends making waves right now.
1. Facial Recognition In Retail Tech
Facial Recognition technology is nothing new. In fact, a basic form of facial recognition was quite common in the past, used in criminal investigations.
However, nowadays, facial recognition is extensively employed to help with unlocking smartphones for example, as the latest release of the iPhone and its FaceID technology has proven.
But from criminal investigations to unlocking smartphones, facial recognition has a stable future in fashion retail.
The good thing about facial recognition is that it doesn’t only provide convenience, but it also offers insights into the purchasing decision process of the consumer by identifying individuals and their purchasing habits, therefore building customised experiences for them.
2. Blockchain In Retail Tech
Blockchain technology has massive potential in changing the entire fashion retail ecosystem. It is a new type of tech that could help retailers take a huge competitive edge by guaranteeing safe data exchanges and transactions as represented in a permanent digital data record.
For instance, microchips connected to the blockchain of choice could tell a consumer with complete certainty whether the garment they intend to purchase is an imitation or genuine; whether the item was stolen, the materials that are made of, and where it was created.
In short, apparel put on the blockchain gives the buyer access to the entire history of the product. Moreover, all that information would be made available via the smartphone, in seconds.
3. Augmented Reality
With the help of augmented reality, fashion consumers will be able to try on apparel long before purchasing them. By sitting in their homes, shoppers can try on multiple variants of the products, with different colours, models, and sizes.
Once they are happy with their selection, they order the garments, and the exact product is shipped to their doorstep. The AR tech is designed to provide the comfort and convenience of online shopping along with the experience of physically interacting with the goods.
4. Artificial Intelligence & Future Retail
With the help of machine learning, retailers will capitalise on extensive market data, churned to understand emerging consumer trends and behaviours.
In the case of the apparel industry, which is heavy in graphics and visuals, critical characters such as fit, colour, pattern, and texture could forecast if a future garment will be desired or not.
5. Contactless Shopping
Contactless shopping is estimated to rise to 300% by the end of 2020. Similar to other innovative technologies which are anticipated to transform how consumers shop, contactless shopping makes the entire checkout process seamless, convenient, and much more efficient.