At GfK Markus Tuschl, Global Director of Digital Retail, tracks retail developments. We asked him how will electrical retail integrate disruptive technology at the point of sale…
Today’s retail landscape is constantly evolving and this is partly being driven by the mobile revolution and changing consumer preferences related to this. Shoppers’ behaviours and attitudes are also fluctuating and retailers must understand what’s going on in order to respond and identify gaps in the market. With many opportunities requiring significant investment in technology, this is an important time for retailers. There is a real challenge when it comes to figuring out which areas will have the most impact.
What are today’s retailers doing to leverage these technology opportunities at the point of sale?
It’s clear that retailers have technological investment on their agenda, and priorities in this area are related to big data from different angles and mobile capabilities. However, in order to bridge the gap between current and future relevance, we see the need for more advanced solutions like facial recognition, which are already on some retailers’ radar.
To manage the investments effectively, retailers need to keep one eye on understanding how new technologies can help them do this and another on ensuring they anticipate future innovations. By analysing technological developments in terms of their perceived relevance and the likelihood of them being the focus of future investment by retailers, it’s possible for businesses to pinpoint which technologies to invest in and how to differentiate in a very competitive environment.
Photo: Markus Tuschl, Global Director of Digital Retail, GfK