Retail Technology Heading Toward 'Pivotal Year'
Retail is moving toward a "pivotal year" in the deployment of technology in 2020, according to Chris Timmins, direct of marketing for responsive retail at Intel.
Intel expects the deployment of various tools to increase as the need to create immersive shopping experiences grows and the costs for the technologies drop significantly, said Timmins, while speaking this week at the Path to Purchase Expo in Chicago.
Among the shopper-enabling tools that retailers will be utilizing are:
- Augmented reality overlays to assist with store navigation and send relevant product information.
- Virtual reality shopping environments to simulate the store experience online.
- Artificial intelligence to create "product matchmaking" services.
- RFID tags to improve inventory tracking and customer service.
Retailers also will be tapping into geo-targeting, facial and image recognition tools, AI and anticipatory ordering techniques to improve their ability to personalize the shopping experience and deliver targeted service, Timmons said.