Smartphones to revolutionize retail technologies and shopping, creating huge potential to improve customer experience, streamline staff efficiency, improve coupon redemption and loyalty programs, reports ABI Research
November 18, 2013
– Smartphones will change the face of retail technologies and shopping, enabling a whole new converged ecosystem to emerge. ABI Research’s newest quarterly Market Data, “Retail Technologies”, considers the evolving space of retail technology, taking the smartphone as a central component. Over 100 forecast tables are provided across in-store analytics, indoor location, smartphone retail applications, digital signage & kiosks, POS, RFID, small cells, Wi-Fi, NFC, retail M2M, and gift cards.
Senior analyst Patrick Connolly comments, “Smartphones will completely revolutionize the existing analytics, CRM, digital signage, loyalty and POS markets, not to mention opening up a whole new medium for retailers to sell advertising to brands. Major grocery stores generate as much as 20% of total revenue from standard in-store branded advertising today. Imagine the potential of personalized in-aisle advertising.”
One area of strong growth is retail analytics, where ABI Research has forecast a tenfold increase by 2018, as the market moves from traditional people counting to in-store technologies. Looking at the regional splits, it is clear that it is a worldwide opportunity, with BRIC countries particularly aggressive in adopting these technologies.
Practice director, Dominique Bonte adds, “Smartphones create a platform on which to unite the variety of different technologies deployed in-store. This creates huge potential to significantly improve the customer experience as well as streamline existing pain points such as staff efficiency, product discovery, queue management, coupon redemption, linked loyalty programs, and closing the redemption loop on offers/advertising.”
These findings are part of ABI Research’s Retail Technologies Research Service (https://www.abiresearch.com/research/service/retail-technologies/), which includes Research Analyses, Market Data, Insights, and Competitive Assessments focused on the indoor location market.
ABI Research provides in-depth analysis and quantitative forecasting of trends in global connectivity and other emerging technologies. From offices in North America, Europe and Asia, ABI Research’s worldwide team of experts advises thousands of decision makers through 70+ research and advisory services. Est. 1990. For more information visit www.abiresearch.com, or call +1.516.624.2500.
© 2017 Business Wire, Inc., All rights reserved.