BizTech Shares Retail Innovation Projections for 2019

The retail market successfully emerged into 2019 with a bright future ahead, but that doesn’t mean the industry as a whole isn’t looking to minimize costs moving forward. Particularly in terms of IT. “Everybody wants to innovate, but as inexpensively as possible,” said Sucharita Kodali, vice president and principal analyst at Forrester Research, according to BizTech. As far as this year’s foresight goes, the following are Kodali’s major projected areas of retail interest: shopper personalization, data privacy, in-store mobility, and omnichannel innovation.

cashier handing a woman a teal shopping bagWhile many consider personalized shopping experiences to be a luxury, some consumers are hesitant about how their personal information is being shared. Retailers walk a fine line in the customization process, and data security has jumped to the number one priority for retailers this year. Similarly, “Consumers are using phones to support that store experience,” said Kodali. “Consumers are going back to the store, and mobile devices and investments in mobility actually have supported that outcome."

By definition, according to Hubspot, a multi-channel sales approach that provides the customer with an integrated customer experience. “Even with things like buy online, pick up in store or endless aisle, there are very few retailers that have fully implemented them yet,” said Kodali. With that in mind, the omnichannel innovation experience is still one that has yet to be perfected, which will only become possible as more investment is made.

Learn more about 2019 retail projections here.

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