At last week’s National Retail Federation annual conference, five future trends in the retail industry were outlined. The predicted retail trends:
- Prices change by the hour – although a standard practice in online retail, dynamic pricing is beginning to enter brick and mortar establishments
- Digital mirrors help customers visualize new outfits, lipstick, sunglasses using 360-degree videos that shoppers can send to friends and family for instant feedback
- Robotic shopping carts & cart-less shopping. Robotic carts upload shopping lists, guide shoppers to products, handle check-out and after the cart is unloaded automatically return to the store. In the cart-less shopping experience, customers use their phones to add items to a virtual cart as they walk through the store. At the end of the trip, items can either be picked up or mailed.
- Technology for better-fitting shoes and clothing. Retailers are collecting customer data that they use to recommend clothing. Customers can send a retailer photos of an item and the store will suggest coordinating items.
- Robots that restock shelves and answer shopper questions and help shoppers locate items