Retail 2022: 5 Technologies
The marketing strategy is changing every single year. Many new ideas and methods are added in the marketing and shopping sector to ease customers’ shopping experience. Every technology has positive and negative features. The most effective 5 technologies in the retail business will be discussed along with their positive and negative features.
Advantages and Disadvantages of Beacons
The first technology discussed in the video to become easier retail products in the shopping mall is Beacon. Beacon is a very simple and tiny wireless device that is featured with Bluetooth low energy favor to transmit and provide signals continuously simultaneously to shopper’s device like smart mobile phones. This device also helps retailers to find out the actual locations of the shopping mall which is finding a customer to buy a product. Beacon signal Id provides a signal to customers’ smart devices.
Many companies already introduced this technology to their retail shopping mall to find customers and buy products such as Macy’s and Barney’s. Beacon also helps to save all information of customers as to which products find a customer and also helps to send those types of products advertising to the customer’s mobile phones. As every technology has positive and negative features, in this term, there are also some disadvantages of the beacon. Beacon system provides information about customers’ choices to the retailers. This is a negative feature of beacon as retailers can use the customers beyond of marketing perspectives and this violets secret of the customers also.
In beacon technologies, BLE is used to transmit signals and this is a very confined service as if the customers do not active the Bluetooth service of their mobile phone then the beacon will not be able to transmit signals between customers and retailers. Beacon will not provide data to customers if the customer does not install the mobile application of a particular brand’s specialized app. In this circumstance, beacon relies on a third-party service and this is a very silly opportunity in this digital marketing system. Beacon system should be improved more as this can be a very effective system in the retailing sector.
Advantages and Disadvantages of Facial Recognition
Facial recognition is another very effective technology that uses in retailing. The digital facial recognition system was introduced around 2006 by using facial algorithms. A facial recognition system can scan almost 16000 things of a person by evaluating his faces such as emotion, the situation of mind, mental tendency, and these types of things. Facial recognition is also used in retailing to identify customers’ choices and needs and experiences. It helps retailer staff to find out which types of products customers want to buy. Using this technology a retailing company can recognize a customer who entered their shopping outlets and mall.
There are also some negative aspects of facial recognition. Sometimes facial recognition does not provide accurate information about customers. An analysis shows that facial recognition provides accurate information only 10 times among 100 times trials. In this context, retailers may face difficulties to identify their customer’s needs and choices. Facial recognition can recognize people’s 16000 things only from the front part of the face and this technology cannot scan properly from the variant pose of the face.
Facial recognition is not able to scan accurate information when a customer gets older as the facial recognitions system saves data in previous. The facial recognition system is not able to gender identification and in this situation, retailer staff will not able to justify customer’s needs. This technology can save the data of customers and also violets human basic secrets.
Advantages and Disadvantages of Robot Assistants
Among the 5 technologies in the retail business, robot assistant is very vital. The Robot Assistant indicates using a robot like a human body in a shopping mall that helps customers by artificial esprit. This technology made it easy to help a customer in a shopping mall to choose and buy a particular product and also help to find specific shelves or sectors in the shopping mall.
The inclusion of robotic technology in retailing market has developed proficiency as well as the sequence of the working process. On the other hand, to increase the amount of productivity, the robotic assistant creates an empirical shopping journey for the customers. In this technology, multiple languages inputted to identify customers several customers’ languages. Besides the potential usefulness of robotic assistants, there are various disadvantages of this technology in human society.
Due to the use of this technology in huge amounts, a potential crisis has arisen as human being loses their jobs. This is a big blowing for use of a robotic assistant. To start this technology the costs of initial establishment are very high that all companies will not able to use this technology.
Advantages and Disadvantages of Smart Mirrors
Smart Mirror is a digital technology that consisted of two parts digital mirrors that display several views. This technology uses in many sectors nowadays. This technology is also using to serve customers to choose the better products by displaying various views. The Smart Mirrors technology also helps to identify different forms of customers. Such as which products will be perfect for the winter season and which will be perfect for the rainy season.
Smart mirror technology is very costly to use in the retail shop. The Smart Mirrors technology is not very available although everywhere. Sometimes the display image does not represent the actual views and customers can frustrate to buying the product. This technology is not able to identify real views if customers do not stand in a specific angle. The Smart Mirrors technology also can confuse customers to choose the exact product.
Advantages and Disadvantages of Auto Checkout
Auto checkout is also a very effective technique to use in the retail marketing sector. This technology helps customers to pay in the self-payment process by using this technology. Using this technology there is no hassles or challenges to face by customer. By using this technology a customer can pay the actual payment amount by just scanning products barcodes. This technology uses in Amazon. This technology also has some challenges although.
Consumers already repine about loud sounds of auto-checkout machines. If the sensor disables then the market may face difficulties to get payment. This technology developed more to use generally. These 5 technologies in the retail business play very crucial role.
Prepared By: ATM Qutayba, Student, University of Dhaka