Retail Technology — What’s lying ahead of us?

Smarkt
2 min readAug 15, 2021

Grocery Retail is a huge market with total global retail sales reaching a whopping $23 trillion (approx) in 2020.

Post-pandemic we are continually realizing the importance of a business’ technological maturity. The direct correlation between the growth and success of a business and its adoption of transformative technology is visible.

While the rise of e-commerce (last-mile delivery) is something that is picking up pace in India, the big technology gap that is still there in the retail sector in activities like checkouts, forecasting, loss-prevention, intelligent warehousing, and extended reality (XR) integration is still missing.

IoT (Internet of Things) technology is widely used by retailers and has diverse applications — from intelligent logistics to granular customer segmentation to customization and intelligent warehousing.

Computer Vision, in general, is set out to bring about a stellar change in the way we shop in the future. Facial recognition technology can help sales staff better meet customer needs and decipher any changes in customer emotions. Customers can leave the store with their items scanned automatically.

  • XR technology and AI integration, in general, promote change by enabling other technologies to achieve their full potential. Scan-and-go shopping, facial recognition, and so many other advancements all rely on the above.

The integration of these technologies are something that definitely need to be pondered upon. Where do you think you could use more of technology integration in the grocery retail space?

We’re curious to know your thoughts on this andlove to have you join us in building what’s going to change how Bharat shops, one supermarket at a time!

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Smarkt

We’re here to change the way Bharat shops, one supermarket at a time!