Trends in Retail to watch out for in 2020

The retail industry – be it offline or online, has grown considerably over the years.
With billions of worldwide consumers, retail has grown to become a massive player in almost every way. The transition to e-commerce industries and online retail spaces has enabled brands to reach their maximum potential and has enabled them to sell their products to a much wider range of customers all over the world.

Supported by technology, following are the top 4 trends to watch out for in 2020

1.Augmented Reality
R can be defined as a system that fulfills three basic features: a combination of real and virtual worlds, real-time interaction, and accurate 3D registration of virtual and real objects. The overlaid sensory information can be constructive. This experience is seamlessly interwoven with the physical world such that it is perceived as an immersive aspect of the real environment.
Companies like Target, Lowe’s and Amazon have found that augmented reality may be especially helpful in decreasing the number of returns they see from online shoppers. Augmented reality could help in reducing returns because consumers more fully understand what they’re buying at point of purchase.

2.Faster Delivery
Clearly, consumers are shopping at the speed of digital transformation and expect their products to be delivered just as quickly. DRONE delivery conveyance is another progression into what’s to come. India, is giving indications of being a huge player in the business. The Directorate General of Civil Aviation (DGCA) has taken critical steps in firming out the administration’s strategy in this area

3.Social shopping
Imagine you are walking on the street and a dress on someone catches your attention. Being able to take a photo of the dress and search for it is going to be hugely possible with newer technologies.

4.Predictive Analytics
Retail analytics is predictive. Going beyond simply summarizing what has happened in the past (descriptive analytics), brands are looking to answer questions like “what will happen?” and “what should we do in response?” That means using data to forecast demand and so supply. Focusing on predictive insights enables companies to shift from reacting to customer orders to proactively shaping demand and ensuring the right product is in the right place, at the right time. This will result into consumers having an improved experience.

Overall Retail is going through some very exciting times in the future transforming the customer’s experience