#RBTE2018: Future of retail includes better purchasing and retention

The future of retail will better assist the customer and enable them to make more efficient purchases.

Speaking on a panel on the future of retail at RBTE 2018 in London, moderator Ian Tomlinson, CEO of RetailStore, asked the panel what is retail lacking now? The panellists were agreed that the customer experience was paramount, and creating a convenient experience using technology had to be understood.

Karin Cabili, founder and CEO of Dropit Shopping, said that “spenders are looking to ease the experience of shopping” and that people who have a good experience are more likely to make a purchase. “How can we help them get to the point of purchase rather than keep them in store playing with technology,” he said.

Alex Fryer retail, logistics and finance IoT market development lead, global at Vodafone Global Enterprise said that there are two focal points: how to improve the experience of the customer and offering a seamless experience.

Asked for their thoughts on what future technologies will drive retail, the panellists, who also included Igor Kolynin, marketing director of Petrovich and Ben Gale, VP and managing director of Diebold Nixdorf UK, named the following:

  • Recycling technology
  • On-set of RFID
  • Client experience and behavioural analytics
  • Big Data personalisation
  • Internet of Things
  • Social media integration
  • Optimisation of stock between online and offline

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