How the Retail Industry Readies for Post-COVID World

By: Katie William, Retail CIO Outlook | Tuesday, June 08, 2021

The pandemic has dictated an all-new lifestyle and see how the retail industry is facing it.

FREMONT, CA: Technology is helping the world win over almost all the adversities that the outbreak of the novel COVID virus has caused. Along with reimagining the paradigm of retailing as a whole, modern retailers are also turning towards catering to the individual needs of the customers. Technology is the weapon that the retail industry is using in order to tackle the limitations and constraints that the post-COVID world is offering the industry.

So, what are the trends that would redefine the business prospects for the retail industry? How can retailers ride in the post-COVID world? The retail businesses from all around the world are aiming to deal with the business scenarios in a high tech manner. This smart backing that technology gives the retailers is helping not just the industry players but the customers as well, in having safe business experience. In the wake of the regulations such as social distancing, the brick and mortar stores are also wearing the dress of digital today.

Retailers are aiming at making the customers understand that they are prioritizing safety, and in order to achieve this, the physical retail stores are using in-house tools such as kiosks, digital video catalogs, and computerized communication protocols, which all have the least or negligible intervention of human professionals. This integration with various technologies also helps the retailers to f=give the customers a highly pronounced experience of contactless shopping.

The retail industry is following a holistic approach to make a sale and see prosperity in business. For this, the retailers are rethinking their branding and ecommerce strategies largely. In order to create a unified experience, retail technology is enabling the breaking of the omnichannel silos. In the wake of deploying a large range of digital tools in the physical stores in order to cater to the communication needs, the retail industry is making efficient use of the cloud technology, VR for experiencing the product without touching the physical product to abide by the social distancing laws, digital single and kiosks and more.