Live Data: Retail Technology Investment Plans 2018-2020

Live Data: Retail Technology Investment Plans 2018-2020
Delivery & Logistics

PSFK polled over 400 retail professionals about their near- and long-term investment plans to gauge the pace of retail tech adoption

Piers Fawkes, PSFK
  • 30 january 2018

Whether building experiences or connecting digital systems, today’s retail evolution requires strategic investments in technology. For our Future of Retail 2018 report, PSFK polled over 400 retail professionals to share their near- and long-term investment plans to gauge the pace of retail tech adoption—identifying first-mover opportunities and noting where others must catch up.

Top 10 Retail Technologies That Experts Are Investing In:

(In order of importance)

  1.  Personalization
  2.  AI & Cognitive Softwares
  3. Data Collection & Analytics Tools
  4. Mobile Website Experience
  5. Social Media Retail
  6. Augmented Reality
  7.  IoT & Sensors
  8. Voice
  9. Robotics & Automated Systems
  10. Programmatic Advertising

Retail Investments For Today / Quick-Win Initiatives

Opt-In Data Tracking
Survey respondents are prioritizing data tracking capabilities and technology. Because data collection is the backbone for 1:1 customization and large-scale analytics, this investment lays a functional foundation for modern and future personalization software.

Offline/Online Syncing
Customers’ expectations for omni-channel shopping are driving retailers to offer seamless engagement and transactions across store, mobile and desktop—syncing profiles, inventory and account history.

Flexible Logistics
Shoppers’ propensity to browse from one channel, buy at another and return to a third is forcing brands and retailers to implement adaptive fulfillment and return platforms that can meet customers at any location.

Retail Planning For Tomorrow / Long-Term Opportunities

Biometric Recognition
Integrating biometric cues, such as facial or voice recognition, into offline retail will provide a more seamless system of recognizing regular shoppers, tracking their behavior and activating at their moment of intent.

In-Store Augmented Reality
As augmented reality software becomes increasingly available to every consumer through their mobile devices, retailers and brands can integrate AR into the customer journey for specialized experiences, like adaptive pricing or product customization.

End-To-End Personalization
Although retailers can enable personalization at different points in the path to purchase now, the possibility of a fully personalized service customer journey will grow by combining data collection tools to tailor content across their mobile, in-store, desktop and home experiences.

For a breakdown of the raw survey data, Premium members can find it in the Future of Retail 2018 Report file download.

About: The Future of Retail 2018 report includes insights collected from the PSFK 2018 Retail Survey, conducted in November 2017, in which over 400 retail, brand and agency professionals within the retail industry offered their perspectives on the future state of the industry and the convergence of offline and online retail. These perspectives informed quantitative and directional insights within this document.


Lead Image: CaliBurger facial recognition kiosk via Cali Group

Whether building experiences or connecting digital systems, today’s retail evolution requires strategic investments in technology. For our Future of Retail 2018 report, PSFK polled over 400 retail professionals to share their near- and long-term investment plans to gauge the pace of retail tech adoption—identifying first-mover opportunities and noting where others must catch up.

+AI
+artificial intelligence
+Automotive
+Brand Introduction
+data
+financial services
+home
+In-Store Assistance
+internet of things
+IoT
+Luxury
+mobile
+retail
+technology
+Virtual Commerce
+Virtual Shop

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