Smartphones will change the face of retail technologies and shopping, said ABI Research.
Smartphones will revolutionize the existing analytics, CRM, digital signage, loyalty and POS markets, not to mention opening up a whole new medium for retailers to sell advertising to brands. Major grocery stores generate as much as 20 percent of total revenue from standard in-store branded advertising today. Imagine the potential of personalized in-aisle advertising.
One area of strong growth is retail analytics, where ABI Research has forecast a tenfold increase by 2018, as the market moves from traditional people counting to in-store technologies. Looking at the regional splits, it is clear that it is a worldwide opportunity, with BRIC countries particularly aggressive in adopting these technologies.
Smartphones create a platform on which to unite the variety of different technologies deployed in-store. This creates huge potential to significantly improve the customer experience as well as streamline existing pain points such as staff efficiency, product discovery, queue management, coupon redemption, linked loyalty programs, and closing the redemption loop on offers/advertising.