It’s NRF time again and the Ketner Group Team is getting ready to head out to New York next week to attend the Big Show! Leading up to what should be a convention full of new and trending retail technologies, renowned retail industry analyst, Forbes contributor and Ketner Group friend, Paula Rosenblum, shares in her most recent article, “Retail’s Big Show Will Showcase Hot Technologies For 2014,” what she predicts to be the best selling retail technology solutions of the year on display at retail’s “Big Show” next week. This year, Rosenblum expects the biggest tech trends to focus on keeping consumer satisfaction and attention with competitive prices and seamless online and in-store experiences. Retail is a crazy roller coaster ride of an industry, and the Ketner Group team looks forward to an exciting 2014!
Here’s a short summary of what Rosenblum lists as her “Top Five” of 2014.
1. Technology to improve the customer experience in stores. It’s not a secret that more shoppers are moving online to make their purchases. Retailers are finding ways in-store technology can differentiate and improve in-store experiences so customers keep coming back.
2. Cross-channel Order Fulfillment. Because consumers want instant gratification these days, retailers are making sure that merchandise is always in stock, whether physically or virtually. Customers don’t want separation of in-store and online—they want brick-and-mortar stores to have e-commerce-style inventories.
3. Promotion and Price Optimization. According to Rosenblum, Black Friday has become the Superbowl of shopping and promotions. In order to attract the most customers, retailers are investing in technologies that help uncover the most effective promotional and end-of-season prices.
4. Big Data and Predictive Analytics. Big Data is everywhere. Adoption of analytics is becoming widely popular for retailers and they are looking to these technologies to determine what consumers really want so they can sell smarter.
5. Data Security. Thanks to the data breach Target suffered in December, Rosenblum says this shot up to her list. Retailers will be looking for ways to protect not only their customers, but themselves, as well.
For more information, check out her full article here on Forbes.