Research Insights worth Remembering When Thinking About In-Store Technology

With technology becoming an integral part of our lives with every passing day, it is only obvious that it has found its way into business as well.

If you want your business to keep pace with today’s fast-changing world, you have to create an online presence or at least technologically advance your brick and mortar store.

While it’s absurd to think that your customers will not welcome the improvements, the fact remains that some aspects of technology are indeed not very well received.

As a machine perfectly handles the work of several workers, stores become heavily reliant on such devices working efficiently for them. But if a device happens to trip, that’s when the trouble begins.

If your business operations depend significantly on the use of technology or you are thinking of integrating it further in-store, here are a few things to consider.

In-store tech is everyone’s favorite

Surveys conducted from various customers through different media showed one thing in common: they love to experience in-store technology. This doesn’t just refer to payment terminals; it includes several other innovations from digital screens to artificial intelligence and even virtual reality experiences that make a shopping trip truly joyous and memorable.

The downside that everyone hates

It goes without saying that the wall between the flawless operations of such innovations and everything going completely haywire hangs by a very fine tread.
Be it a power outage, some other electrical failure or an internet or connectivity issue, a minor electronic fault can turn everything upside down.

It can be inconvenient for customers as they have to wait longer, experience delays in their payments or sometimes even abandon their carts as they are unable to complete their purchase. Not only does this mean unsatisfied customers that can ultimately ruin your business reputation but it can also lead to significant revenue losses as you experience downtime and lose potential sales.

In-store tech is vital to survive competition

A research conducted on retail store owners showed that more than half of all retail decision-makers consider spending on in-store technology important in order to keep up with their competitors in the industry. This can range from updating their existing tech devices to introducing new, more innovative tech solutions.

This helps retailers in improving the customer experience and reducing sales lost due to technical errors.

Walk before you run

It has been found that stores that test out their future tech innovations by giving a demo beforehand are successful in almost all cases.

Therefore, whether you want to introduce a new payment method or introduce a robotic ‘salesman,’ remember that it’s better to run a trial first and then judge the customer response.
This allows you to see whether the innovation will be well received or not and if any improvements are required. If the demo is a hit, it’s a sign to go ahead.

By POS Highway Staff | August 9th, 2023 | Point of Sale, Retail Merchandising | 0 Comments

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