Smartphones will change the face of retail technologies and shopping, enabling a whole new converged ecosystem to emerge, according to ABI Research’s newest quarterly Market Data report -- “Retail Technologies.”
ABI Research Senior analyst Patrick Connolly said in a press release that smartphones will completely revolutionize the existing analytics, CRM, digital signage, loyalty, and POS markets.
What’s more, Connolly said smartphones will open up a whole new medium for retailers to sell advertising to brands.
“Major grocery stores generate as much as 20% of total revenue from standard in-store branded advertising today,” Connolly said. “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.
ABI Research Practice director Dominique Bonte added: “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.”
ABI Research provides in-depth analysis and quantitative forecasting of trends in global connectivity and other emerging technologies. From offices in North America, Europe and Asia, ABI Research’s worldwide team of experts advises thousands of decision makers through 70+ research and advisory services.