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The future of retail

by WF- Enzo
8 replies
I still couldn't fully grasp how the Internet of Things, or IoT, work. They say IoT devices can be as simple as a Raspberry Pi, or as big as a smart fridge. Anyway, here's a TED Talk by technologist Taylor Romero as he talks about bringing tech advances into his wife's barbershop and clothing store, and how ultimately IoT will change retail.

#future #retail
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  • Profile picture of the author deu12000
    Stores have beacons and other devices in their stores that talk to your mobile devices and can give you suggestions. It doesn't seem as widespread as I imagined it would be (especially after Google basically killed of Eddystone) but it's out there. Also Google knows where you're at, as soon as you leave a place it asks for reviews of the business you just visited.


    During this whole coronavirus ordeal businesses that weren't accepting online orders started moving to platforms that allow them to do online ordering and online booking if they didn't previously have it.


    The future for most businesses is online, not just retail.
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    • Profile picture of the author Matthew Stanley
      The future for most businesses is online, not just retail.
      Yep - would agree, with one caveat: as the economy moves more and more online, when appropriate, online companies will increasingly have an offline existence (albeit smaller than pre-internet companies' stores, of course), as offline is a relatively efficient way to lower online customer acquisition costs (esp if scale is low)
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  • Profile picture of the author John Jonas Phil VA
    I think the challenge here for brands and companies that rely so much on atmosphere or ambiance to make the sale. Dunkin Donuts for example. I only crave those donuts when I pass by their store because the smell is just irresistible. But now that I do most of my food shopping online, the satisfaction I feel when I bite into a donut at home doesn't feel the same. The donut store smell isn't there.

    The good thing though is I'm not craving donuts as much. Funny that online retail helped me make healthier life choices.
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  • Profile picture of the author steveanderson1610
    IoTs, wearables and other advanced mobile technologies have surely infused into the Retail Industry leveraging high efficiency and paving a path towards
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  • Profile picture of the author myob
    Amazon is reportedly moving into major shopping malls throughout the country formerly occupied by anchor stores such as Sears and J.C. Penney. They are converting troubled malls into distribution centers for their online shoppers. Since these malls are conveniently located near large population areas, online order fulfillment will be faster and more efficient.
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    • Profile picture of the author Matthew Stanley
      yeah- thought this was an interesting development by Simon Property / Amazon. Beyond the fact that it's another proof point of the the "retail moving online" trend, it's also a move that presents challenges to the remaining adjacent mall shops which could have the effect of accelerating this trend even further, as some mall properties may have to be rezoned (industrial warehouses a different gov't classification than commercial department stores), and lots more big truck traffic isn't exactly consumer shopper friendly as far as on-site visitation goes.

      Tough sledding indeed for many non-destination mall shops...
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  • Profile picture of the author SEOSenior
    The future of retail will feature a high level of online penetration. The best suppliers will establish direct-to-consumer relationships, where retailers will no longer serve as the gatekeeper to the customer.
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  • Profile picture of the author Slayer One
    Yes indeed the 4th industrial revolution is happening as we speak.


    If you want to know what skills and niches will be profitable over the coming decade just take a look at the Agenda 2030 goals in the pdfs found on the World Economic Forums website: they seem to be the influencing force behind this worldwide change which is happening.


    Peace,
    Slayer 1
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