Future of Retail Technology Options for Small Business

In today’s hyper-competitive retail marketplace, innovative technology helps larger and online retailers stay relevant with consumers. Sadly, smaller retailers may think they suffer from a future of retail technology disadvantage because of cost and scale. However, as seen at the just concluded Consumer Electronics Show (CES), there’s plenty of tech to go around. Smaller retailers who find ways to profit from innovation and partner with retail technology experts to adopt appropriate retail technologies will be more likely to keep pace. To emphasize the point, here are several retail technologies highlighted at CES and elsewhere that we believe smaller retailers can…

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IoT Inventory Management Enables Seamless Customer Experience

Today, more than ever, consumers drive the shopping experience. Shoppers may browse online while walking through the aisles of a physical store. Or they may buy an item online but then return it to the store later. All the while, they expect a seamless experience. IoT inventory management plays a key role in making it happen. As consumer demands evolve, retailers must incorporate technology in innovative ways to meet customer expectations while expanding profit margins. Increasingly, businesses are turning to the Internet of Things (IoT) to streamline inventory management, providing visibility and flexibility throughout the supply chain. IoT Inventory Management…

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The Internet of Things (IoT) and the Future of Retail

The shopping bag has long been the universal symbol of the retail industry. But the new age of hyper-connectivity and emerging consumer trends mean that lugging a bundle of bags through a shopping mall may soon be a thing of the past. Online shopping was one thing, but the Internet of Things (IoT) is shaping the retail industry in ways no one could have predicted a decade ago. Here’s what the future of retail looks like—soon coming to a store near near you! IoT: A Network of Convenience IoT has been one of the hottest buzzwords surrounding retail for some…

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The Security Benefits of EMV Implementation

The Security Benefits of EMV Implementation In the wake of recent large-scale data breaches like the incidents at Target and Sony, a significant shift in credit card technology was inevitable. The implementation of EMV chip credit cards across the nation promises to protect consumers, but what makes the technology more secure? EMV technology is not new. In fact, EMV chip-equipped cards have been the standard across Europe and many other parts of the world for over a decade. Cardholder data is stored in an embedded microprocessor, and the card is typically inserted into the terminal as opposed to being swiped,…

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Four technology trends that will shape the future of your business

These days, the rate of technological change can be dizzying. Keeping up with the latest trends can be a challenge for anyone, but some of these disruptive technologies will present new opportunities for business in the near future. Which technology trends matter most to your business? And how can you capitalize on them? Read on. Cloud Worldwide, fifty percent of business decision makers say that the cloud lets them be more agile in their business operations.1 This is because the cloud offers them the ability to scale their computing resources up or down to meet business demands. Small and medium sized…

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Fashion Retail VR Apps that Sizzle

What happens when high tech enters the world of fashion retail? In the case of virtual reality (VR) and augmented reality (AR), the fusion of technology and couture creates a stylish win for everyone with Fashion Retail VR. Customers enjoy more flexibility in their shopping and increased opportunity to customize. Retailers reach a greater number of customers in more meaningful ways and boost sales. Take a look at some of the exciting VR/AR possibilities for fashion. Wedding Dress Perfection Shopping for a wedding dress is a once-in-a-lifetime event. U.S. brides spend an average of $1,500 for the perfect wedding dress….

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6 Awesome Medical and Retail VR/AR Applications

After decades in the realms of fantasy and gaming, virtual reality (VR) and augmented reality (AR) will soon invade the mainstream of everyday experience. And determined industry heavyweights like Microsoft aim to make the technology both accessible and affordable. Medical and retail VR/AR applications readily generate excitement. With demos of Microsoft’s HoloLens generating oohs and aahs, and the announcement that Microsoft will incorporate all the features of Windows Holographic into Windows 10, the world of VR/AR now orbits the galaxy of business. Consider these visually mind-blowing opportunities for retailers and medical professionals. Surgical Training for the Developing World Noble but…

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2016 Technology Trends for Local Retailers

Much has been written about how advances in retail technology are transforming the retail industry. As expected, forecasters this year have identified a number of retail technology trends to keep an eye on. New technology generates excitement, but begs the question, which of these trends reflect technologies that are practical and accessible to local retailers, and how can local retailers best use those technologies to their advantage. Below, you’ll find two summarized lists of the technologies expected to have the most impact in 2016 identified by retail industry prognosticators, including Synchrony Financial, technology industry experts and some observers at the…

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Humanizing Retail Technology with Small Touches

Humanizing Retail Technology with Small Touches The other day, I encountered the retail dressing room sorting rack shown below. In addition to having enough hooks to easily hang eight garments, the notes, “Try it! New Size” and “Keep it!” suggesting a helpful sorting method for the customer, impressed me. Retail dressing room sorting rack – A small touch to humanize the customer experience It’s such a simple idea, yet it shows that the retailer cares enough to add small touches to improve my shopping experience. I could get used to that kind of treatment. Retail Thoughtfulness Other examples of this…

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How Technology Can Save Brick and Mortar

During each holiday shopping season, we hear about increasing online sales and how some brick and mortar retailers are struggling to compete with the channel. It doesn’t have to be that way. In spite of growing Internet sales, some stores are thriving, mostly by embracing the omni-channel model. Several of my retail customers are adding locations and expanding rapidly. The Un-Cola Strategy While online shopping is convenient, the in-store shopping experience has advantages that cannot be duplicated online. So in addition to adopting an omni-channel approach, stores might consider employing the un-cola strategy, 7-Up’s best ever pitch, to compete. In…

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