The robots are coming to a store near you!
Retailers are experimenting with new technology to enhance the overall customer experience,
The way we shop is changing. Our love for a simple and fast way to buy products has lead to an increasing trend of mixing technology with retail.
Global firm Fung Global Retail & Technology has predicted trends likely to impact retail this year, some of which involve robots, virtual reality, and drones.
And while New Zealand is a little slow at catching on, we aren’t too far behind.
Retail NZ spokesman Greg Harford said the trends - with a couple of exceptions — were ‘‘fairly applicable’’ to New Zealand this year.
‘‘NZ retailers are competing not only with each other, but also with firms abroad; and secondly, it can be easier for brands to engage directly with consumers, bypassing the traditional retailer.’’
However, traditional bricks and mortar store were not dead, Harford said.
‘‘Even if consumers want to shop at home using digital channels — they also want to be able to visit physical stores, interact with staff and see, touch and feel the goods.
‘‘This is why both here, and overseas, we are seeing some online stores retrofit into bricks and mortar. Many retailers need both physical and digital channels to serve their customers.’’
First Retail Group managing director Chris Wilkinson said retailers would work further towards blending the online and instore experience.
This would occur as customer expectations became clearer and the market stabilised, he said.
On top of that, customers would see greater automation in stores, he said.
In the US, it was becoming commonplace for staff to manage transactions from phones or tablets, however this had not reached our shores - yet, Wilkinson said.
‘‘This is a game changer which Apple pioneered years ago - now it’s common place with all the leaders across the retail sector in the US.
‘‘We expect this will have to happen in New Zealand this year.’’
Another trend was for manufacturers to become more involved in direct distribution, he said. ’’Selling typically through websites.’’
Some worldwide retails trends for 2017:
❚ Retail stores closing, consolidating and going bankrupt
❚ The robots are coming...to boost productivity
❚ Digital tools to improve customer service
❚ Supply chain visibility
❚ Drone delivery: China in the lead