How In-Store Tech Will Transform Retail

Retail stores are being challenged like never before. Not only are consumers buying more goods online (a trend accelerated by the pandemic), but digital-first companies like Amazon are attacking brick-and-mortar retailers’ home turf by opening their own physical stores that combine online and offline attributes. To stay competitive, traditional retailers need to consider how adopting digital technology can improve the in-store customer experience, provide access to more data on customer preferences and habits, and potentially improve omnichannel operations. The so-called frictionless store has become the new gold standard in the retail world. However, the term is a bit of a misnomer. The goal is to use digital technology to meet consumer expectations of flexibility, instant gratification, convenience, immersive shopping, safety, and speed. But early adopters aren’t removing all points of friction. Rather, their strategies vary substantially depending on which friction points they want to remove.