Top CIOs create a blueprint of how the retail sector overall will look and transform by 2020 and beyond. Technology will blur the line between digital and physical stores. What will the retail industry sector look like in 2020? Here is a glimpse of what India's technology leaders think, #ReimagineeringIndia.
Frictionless retail will be very much prevalent, where there will be very less or no friction between the customers and the service provider. This will be seen through self-check-out stores, new billing mechanisms and in-store technology such as VR-enabled trial rooms.
With so many options with the customer, a shop would be a place where customers visit just to experience something. Transactions may not always be closed at a shop. At the shop, the staff will already have information about the customer, equipping them to give better assistance.
A customer would just put on a virtual reality lens and move through the store right from their home or even while travelling. They will pick up items, and these will be shipped to their homes. This will give customers a store-experience regardless of where they are.
Digital assistants such as robots, chatbots and wizards will offer useful conversational assistance to customers at every touch point within the store. Customers will get all the relevant information and reviews of the products, by something as simple as scanning a barcode using their phone.
Jewellery designers can bring their designs to life faster using 3D printers. For their online and brick-and-mortar stores, customers will get a seamless omnichannel experience across multiple platforms and devices. Machine learning, image processing, and geo-positioning services will create more engaging connect between the retailer and customers.
Tell us how you envisage the future of your industry. We shall make sure the best ideas reach the right people. Tweet your vision with #ReimagineeringIndia.