The annual, biggest consumer technology show hosted in Las Vegas, CES 2020, commenced on Tuesday 7th and is expected to end on Friday 10th. Firms are hoping to attract consumers and investors through the launching of new tech gadgets that can help in monitoring health, robots, smart cars, and smart homes. CES 2020 is the best platform for people to acquire knowledge on how firms should create a better retail environment through tech.
Below are trends we expect to see from CES 2020.
Augmented Reality and Virtual Reality
In the past decade, the gaming industry was the leading industry in using Augmented Reality and Virtual Reality tech. However, retail firms in CES 2020 are proving to overshadow other industries into using this tech. Creating firm awareness, attracting customers, and assisting in product discovery and purchase is the significance of AR and VR. Both in offline and online mode, retailers can use AR and VR in different applications. AR and VR applications are poised to benefit firms such as Lowe’s for home improvement, Sephora for beauty and Macy’s, and Wayfair for home furnishings. However, AR enables consumers to experience a product before purchasing it.
Checkout tech takes off
Thanks to Amazon go’s, people are focusing more on Autonomous checkouts. Innovating more on checkouts will go a long way in solving customer’s problems. Customers are in favor of self, checkout in stores. Stadiums, gas refilling stations, and airports are inventing and launching new checkout tech while retailers are devising mobile checkouts that will enable customers to take and leave.
Photos pick up in popularity
It’s expected that image search will find its way to be popular this year after trending a lot last year. Social media trends, sophisticated image recognition programs, when merged with computer vision, will pave the way for retailers.
Monetizing data
Dramatic shifts in controlling power of customers’ behavior are increasing due to the value of data and its relationship between customers and retailers. Nowadays, modern analytics can enable retailers to team up with suppliers and listen to customers to improve customers’ experience. it’s significant for retailers to monetize data if they want to boost profits and minimize loss.
Logistics innovation
delivery robots FedEx and Walgreens are one of the main talks of CES 2020. Delivery vans and drones are overshadowing third-party shippers of amazon. 80% of data collected online from customers is always irrelevant. However, firms like amazon are using predictive analysis to select the spam data and build aa predictive analysis around customers’ behavior.
