Acolossal technological transformation is underway for retail sector, expanding over areas such as Artificial Intelligence (AI) and Machine Learning (ML), mobile technology and AR/VR. AI is used by retailers for data mining from internet enabled devices (or IoT) and generates useful insights that save them time and money. Smartphones are also enabled with geolocation that helps them to achieve targeted marketing by coming up with special promotions and dynamic pricing. In addition, smartphone owners make use of mobile wallet payments that gained much traction during and after COVID-19 pandemic to ensure maximum public safety.
Nowadays, mobile wallets have evolved to contactless payments. This futuristic experience offers customers a notouch shopping experience and surpasses mobile payment or chip enabled cards and is a technology being lately adopted by retail sector. Technology providers are working with retailers to enable warehouses with smart robotics and advanced computers to automate warehouse management and inventory control. Robotics extends its applications by directly delivering from warehouse to custom, offering a true door to door delivery service, making it a fast and reliable system of the future. Retailers are utilizing extended reality to its maximum potential for improving customer experiences. Augmented and Virtual Reality technology not only helps consumers to browse for items but also try them, assisting them to make better decisions. AR combined with mobile technology helps users to navigate aisles in large superstores, making it productive and convenient for them.
At this juncture, there is a wide variety of solution providers entering retail market with advanced tech solutions in their roster. To help retailers and solution providers bolster their operational capabilities and achieve accelerated progress in the sector, Retail Tech Insights Europe has compiled a list of the Top 5 Retail Tech Companies in UK 2021. Besides, the magazine also includes insights from thought leaders in the sectors on the industry trends, recent innovations, best practices and their advice for aspiring CIOs and CXOs.
We present to you Retail Tech Insights’, “Top 5 Retail Tech Companies in UK - 2021.”