How data and expertise will shape the future of retail

Summary:

  • COVID-19 protocols in retail environments have stabilized, but the importance of open-based, scalable and secure data analysis solutions have not diminished.
  • The technologies that helped retailers adapt to meet guidelines when COVID-19 hit can help stores innovate for the next stage of retail.
  • As retailers embrace innovation that isn’t fueled by public health concerns, they need experienced partners to lead the way.

The full story

The way consumers look at in-store purchases has changed profoundly in recent years. While shoppers seeing these changes may view them as a byproduct of COVID-19, that perception isn’t entirely accurate. Although COVID-related health and safety concerns have provided the impetus for the rapid adoption of new models, their execution is the result of years of consistent technology investment and improvements by retailers.

The AI-powered data collection and analysis platforms that have helped retailers get up to meet the moment were not developed to overcome the challenges of a pandemic – their capabilities were simply put to work finding those solutions. Although it is incorrect to say that the COVID-19 pandemic is over, current virus mitigation procedures appear to be sufficient to protect public health while allowing consumers to access the things they need.

As the period of operational innovation fueled by COVID mitigation draws to a close, retail decision makers are reframing their relationship with data analytics to develop solutions for an even more streamlined and sustainable future.

Take inspiration from external pressures

While the idea of ​​going back to business as usual may be appealing, the fact is that the old ways of doing business didn’t always meet customer needs. Before COVID, customers were looking for more convenient, sustainable, and seamless omnichannel experiences. The COVID-19 pandemic has accelerated the need for retailers to rethink the way they do business, from staffing to floor planning, customer service, omnichannel fulfillment and more.

However, shoppers’ search for better, more durable, and more convenient retail options won’t stop there. The technologies that have enabled retailers to respond to the demands of COVID-19 will pave the way for better shopping experiences and more efficient in-store operations on the next leg of this journey. Now that retailers have familiarized themselves with the breadth of capabilities offered by modern retail analytics technology, they can move forward more comfortably on their digital retail transformation journey.

After the turmoil of the past two years, the idea of ​​continued change may seem daunting, but the industry is on the precipice of a major period of innovation. Retail decision makers are driving the industry, and they will do so with the advantage of innovation available from the outside in.

The right expertise, processes and tools will pave the way

Retailers who have invested in these technologies but have not fully explored their capabilities may feel alone in this quest. However, relying on experts in the field can help retailers and brands understand the data in their systems and consumer demands.

To achieve operational excellence, retailers can benefit from:

  • Expertise in technology strategy who can help assess operations and design roadmaps with relevant technology recommendations
  • Design, deployment and integration expertise which is focused on solution design and architecture, program delivery, deployment, installation and standardization to drive retail results
  • Experts in management and technological support that take advantage of the best tools to facilitate hardware repairs, maintenance, technical support, upgrades and system health monitoring.
  • Learner services flexible consumer education programs that support business outcomes and maximize ROI from technology investments
  • Customer Success Experts who can provide personalized advice on specific retailer needs, goals and pain points to enable continuous transformation
  • Retail Consulting Practices who brings set of years of retail experts experience and advanced analysis to design new methods to achieve profitability goals.

And after?

As retailers look to innovation that is not solely fueled by public health concerns, engagement with next-generation data analytics and experienced retail store operations teams will lead the way. towards a more streamlined and sustainable future. For retailers who feel they don’t have these experts on hand, Sensormatic Solutions‘ can help. Sensormatic IQ– the organization’s scalable analytics solution – delivers accurate, actionable insights and transformative services retailers need to speed up their operations.

The era of personalized and connected retail analytics solutions is here to advance retailers’ digital transformation journeys. Sensormatic IQ’s ever-evolving platform integrates new technologies as they become available, providing insight to retailers of all sizes. As industry ecosystems grow, Sensormatic IQ and accompanying services will evolve accordingly, providing flexible entry points to digital transformation for years to come.

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