Drones, crypto-currency and AI - adoption of new techs is just a tip of an iceberg for a retail industry on a brink of an unprecedented transformation. To be able to face the future, the sector will have to get ready for a radical cultural change.

According to the industry experts, retailers should be more confident in applying new techs in their business. It all boils down to changing one's mindset and becoming more future-oriented. Industry players must cease to perceive new-fangled solutions as something futuristic and embrace them as part of their everyday business operations.

New Staffing Model

In today's retail industry, non-selling, non-revenue generating tasks consume a great deal of labour. Just think of all these activities performed by managers to verify stock levels, schedule staff and taking care of reports. This is when automation comes in, enabled by robotics, Big Data crunching and predictive modelling. What it entails is a cut in workforce and a change in required employees' skill sets.

Data-driven Customer Insights

Retail of the future no longer relies on industry standards and gut feeling. Data is the key to developing genuinely valuable insights. Shopper detection techs, smart shelves and activity detection systems are great examples of how to apply new solutions to track in-store behaviours of both consumers and staff, and use these findings to build solid customer profiles, including consumers' real shopping preferences and behavioural patterns. These outputs become inputs for any marketing campaigns and loyalty programs, whilst helping retailers to enhance the shopper experience. That said, to fully benefit from new techs, retailers have to change their mentality and acquire relevant skills.

Source: www.forbes.com