The streets are littered with the ideas of those who thought they had developed the “next big thing” in retail technology. Consider the key lessons learned from the first forays into Mobile POS devices. While the first iterations of this new technology weren’t an immediate success, the intentions behind it are sound, and the next generation is sure to be invaluable.
Without these constant efforts to improve and innovate in retail technology, we wouldn’t have new tools to surprise and delight customers, while improving store management processes. Look at radio-frequency identification (RFID) tracking, for example. With RFID tags, retailers can not only confirm that an item is in-stock, but they can also pinpoint exactly where it is located in the store.
How do these technological enhancements affect customers? With each new development that increases efficiency or lowers overall costs, customers benefit from an improved shopping experience.