Smart store tech is a revenue booster, reveals report
A new Juniper Research report reveals smart store technologies will spur over $78 billion in annual transaction revenue in the next five years.
These technologies, such as Amazon Go and what the report describes as "invisible payment" tech, are ideal for online-first retailers, notes the report, as they can drive a more personalized customer experience.
The report, Future In-store Retail Technologies: Adoption, Implementation & Strategy 2017-2022, states the majority of revenues from new retail technologies would be derived from two elements: checkout apps and automatic scanning, according to a press release.
"Retail technologies are all moving to make in-store retail more experience-focused," said research author James Moar, in the release. "This is ideal for online-first retailers as the store functions as an advert for an existing business. Offline-first retailers need to both have more personalized experiences and maintain the same transaction volume; a far harder task."
Topics: Assisted Selling, Consumer Behavior, Customer Experience, In-Store Media, Marketing, Merchandising, Omnichannel / Multichannel, Retail - General, Shopper Marketing, Technology, Trends / Statistics
Companies: Juniper Research