Retail is all set to be poised for a greater growth and the recent emerging trends are a proof of that.
Digital natives, a sophisticated omnipresent technology are all a proof of that.There is technology required to manage a sophisticated and a multi channel supply chain.
The year 2017 was a great year in terms of retail and the subsequent food and supply chains.They carried out a lot of new age technologies, to re-define organizations and subsequently manage their inventories,allocate the different resources and also deliver customer delights at every points whether it is online or offline.
Supply chains will play an important role in navigating through the retail landscape and also enable various omnipresent channel networks with a single inventory across various resources.
Which are some of the interesting trends to watch out for in the year 2018-
Consumers will be the main key-
In any kind of business,consumers are the main stay.What the consumer wants,what are his buying patterns will affect the way how the market functions.Let us just say that the consumer is at the heart of the all the functions and is responsible for the innovations to take place.It is not just about loyalty,it is about the passion which is displayed and defined by the consumers and how they define their obsession for a particular product or a brand.
New technologies will emerge and shape consumer experience.
There is a thin line of difference between Millenials and Gen Z natives which will also expect a sleek consumer experience.It also offers a seamless shift of experience between the channels.
New technologies are slowly making their way in the retailer’s handbook.Some of them are,Amazon Prime Drones,Virtual Assistants and investing in a more strategic fulfillment.They are going to shape consumer experiences fully.
A streamlined digital experience-
There is a trend that the retailers will continue to invest in infrastructure and keep up with the growing momentum.
Also different organizations will continue to invest in stores and online experiences.
Equipping the store associates with the right amount of technology can also be a go-getter of sorts and can shape the future of retail tremendously.
Cloud technology will be the next big thing-
Cloud has played a very important role in the formation of supply chain efficiency and is going to be a mainstay in the years to come.
Technology on cloud will enable a faster approach to solutions and can also drive optimization in an ever-changing environment.
Also retailers also need to provide applicability and also cater to certain specific events such as cyber sales and also opt for discount sales during the peak season.Solutions provided on cloud also give various solutions on the agility and the support and also help to sustain in an all-compitative environment.
Also they get a competitive edge as compared to other competition sources.
This kind of technology opens the doors to various consumer preferences and also lifestyle choices.The promotion of customer loyalty can also be gauged from this and is a great tool for measurement.
So retail is making big strides and is on the way to become a fully grown consumer market.