The opportunity for small businesses to grow by utilising technology has never been greater.
By implementing mobile and increased personalisation strategies, small businesses are blending physical and digital retail channels to optimise inventory. Businesses must now either adapt to new technology or fall behind.
Here we examine recent technology trends and how they can benefit a small business.
Personal Adaption of Technology
Small businesses can often find themselves fighting to keep pace with digital transformations, but opportunities continue to grow from the correct application of technology.
From the initial website engagement to the product purchase and the final post-sales interaction, retail technology now offers a range of methods to customise the shopping experience. Many technology options have now reached the mainstream, which means that many small businesses are now able to afford to implement them into their general strategy.
The past few years have seen a massive rise in the use of mobile commerce as the majority of online sales are now conducted through tablets and smartphones. This year, consumers will continue to use their smartphones to compare, browse and complete the purchasing process.
Retailers must have mobile-first strategies in place rather than merely a mobile presence, or they risk being left behind.
Blending Digital and Physical
The digital transformation of retail will not signal the end of constructed shops. It does, however, create a seismic shift in the way that retail businesses operate and their rate of success. Where larger stores are losing to online retailers, small retailers stand to gain.
In 2018, technology trends seem to be less concerned with discovering recent innovations and more focused on redesigning business models in a thoughtful way to make the most of maturing technologies. For example, state-of-the-art digital signage by a company such as https://moodmedia.co.uk/digital-signage-solutions/ can benefit your business.
Retail technology trends indicate that the playing field will level out somewhat, as technology options designed to personalise the customer experience and increase efficiency are now more readily available to smaller businesses.
Savvy business owners can accurately assess the shopping behaviours of their customers and respond with directed customer experiences. This fusion of physical and virtual shopping will open up new opportunities for attracting shoppers and increasing sales.