5 insights from the Retail Technology Show 2022

1.Technology is evolving fast

Retail tech is evolving rapidly, from consumer experiences to front-end technology and inventory management systems. Everything is working to provide a seamless in store experience for consumers in a bid to become more joined up and provide improved data and metrics for brands and retailers. The show was full of innovations, solutions and tools to ensure retail continues to evolve in line with what today’s shopper expects.

2. Monetisation is key

Monetising and measuring not just ROI but also ROE is key for business success. If you can’t monetise your offering and you’re not measuring what is happening in your stores then how do you evolve, stay relevant and remain profitable? There was a lot of technology at the show for exactly this purpose as retailers get wise to the power of data.

3. Retail staff are invaluable

In-store staff are one of the most valuable assets retailers have; they are constantly at the vanguard of the consumer experience driving sales, loyalty and profit. The Retail Technology Show highlighted a strong focus on internal engagement and communication as the key drivers to successful retailing. Engaged, purpose driven store staff are key in the battle to retain customers.

4. Avoid "gimmicky" solutions

Technology and innovation must enhance the shopper experience. With so many options and ideas, it’s key that brands and retailers focus on what genuinely elevates the retail experience and avoid “gimmicky” solutions that don’t meet customers' needs.

5. Success is omnichannel

Omnichannel remains paramount – rather than fighting against the rise of digital, physical stores must embrace today’s shopper behaviour and make it seamless to switch between online and offline channels.