3 technologies that are changing the face of retail

New technologies are changing consumers’ needs and habits. Retail in particular is undergoing a major digital transformation: on and off-line, countless innovations are reinventing the relationship between clients and brands, mainly thanks to three technologies: chatbots, which use artificial intelligence and data collection, robots and virtual reality. The product offering isn’t the key factor where customer satisfaction is concerned. Retailers are thus using technological innovation to focus on the consumer experience: purchasing can now be influenced by digital tools using artificial intelligence such as chatbots, robots and virtual reality. 1 - AI, bots and big data To appeal to...

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Google and Walmart team up for e-commerce

To rival Amazon, Google is joining forces with Walmart, the world’s largest retailer, to develop an e-commerce business. Google Express, the search engine’s shopping service, can now deliver products sold by the US retail giant. What’s more, customers will soon be able to order not only online but directly via Google Home, the hand-free smart speaker. Launched in 2013, Google Express has just added Walmart to its portfolio of retail partners. After Costco, Target and Walgreens, the arrival of Walmart should help Google expand its retail business. And to rival Amazon, Walmart Google Express purchases will soon be compatible...

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With digital robots and services, the hotel industry is offering innovative new guest experiences

With hotels entirely run by robots and offering new digital services such as a virtual concierge, the hospitality industry is embracing the digital age and implementing a range of new technologies, from the simple to the highly sophisticated – and the truly bizarre… If you want to see the cutting edge of digital transformation in hospitality, go to Japan and China. With guests’ digital maturity and acceptance of robotics light years ahead of the West, some innovative new concepts are being developed. Technology: giving a new lease of life to low-cost hotels. The Pengheng Space Capsules Hotel in Shenzhen is a prime...

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Artificial intelligence, in the form of humanoid robots, could be about to take the retail industry by storm. The trend is only just emerging but the innovation capabilities of robotics could mean that service robots will soon be more than just amusing gadgets in supermarkets. “Create a new customer experience:” this is what service robots aim to do for stores, according to a report by Roland Berger. Robotics has already been used in the logistics field for distribution, order-picking and inventory management, and is also being tested for last-mile delivery or analysing in-store traffic. Hospitality is the next stage....

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Retail: experiential retail is out to wow us

With experiential commerce, it’s not about paying for a product anymore but creating a memorable purchasing experience. To impress clients, retailers are launching more and more initiatives that are both pragmatic and creative.  And when you add digital to the mix, the result is subtler, yet every bit as effective. We looked at a few examples. Experiential: this rather odd term is not new for marketing experts looking to boost sales. With experiential commerce, the focus isn’t on the quality or price of a product but on the positive emotions it can create when consumers choose or make their...

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Econocom designs, finances and facilitates digital transformation for large companies and public organizations.
With 45 years of experience, the Group is the only market player to combine 360° expertise through project financing, equipment distribution and digital services, with a presence in 18 countries, more than 10,300 employees and sales revenue of 3 billions euros. Econocom is listed on Euronext in Brussels, Bel Mid and Family Business indices.

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