Innovate or die. This modern age rule applies in retail, too. Fighting for survival in the digital world, brick-and-mortar stores are more than happy to pick startups’ brains on innovative ways to make a difference on the market, including such novel inventions as wearables, AR or beacons. Welcome to a store of the future.

News about demise o traditional retail seems somewhat exaggerated. Bricks are alive and kicking despite fierce competition from online stores. A large percentage of consumers still prefer shopping in brick-and-mortar stores, with a growing number of top digital-native brands setting up physical stores. Bricks 2.0 come fitted with the latest digital solutions, courtesy of innovative start-ups. Let’s have a look at some of these make-or-break inventions.

AR on the rise

Determined to assist retailers in crossing the line between digital and physical commerce, start-ups spare no efforts to develop in-store techs designed to make bricks’ online competitors gasp in awe. Among new solutions are shelf-stocking robots as well as AR displays. Retailers tap into start-ups’ expertise in augmented or virtual reality to enhance layout of stores and the design of promotional displays. 

Big Data is a big deal

Some firms developed new ways for data collection and shopper engagement . Among them are start-ups specialized in location analytics & proximity marketing which use IoT hardware and/or smartphone-sensing software to track shoppers throughout the store and closely monitor their behaviour. A great number of these companies concentrate on data collection for internal analytics, such as merchandise tracking, adjusting staffing levels, monitoring promotions. Omnichannel Analytics also seems in demand, offering platforms which help integrate in-store and e-commerce analytics for a more seamless shopper experience.

Stores turn to bots

Start-ups also help retailers optimize existing store operations by means of cloud-based software and mobile apps. It makes retailers’ lives easier when it comes to managing employee scheduling, mobile payments, coupons and shelf stocking. Other companies leverage frontier technologies such as artificial intelligence and robotics, with some of them offering robots that can perform the function of store associates, checking store shelves and guiding customers throughout the store. Also available is an edgy mobile app using AI to help shoppers in-store.

Source: www.cbinsights.com