Artificial Intelligence

Who are the leading women working in retail technology? Chain Store Age is accepting nominations for its annual feature recognizing female executives who are helping to transform the retail industry through technology.   The “Top 10 Women in Retail Tech” will celebrate the achievements of retail executives from all areas of technology. The winners will be profiled in a special section of the January 2018 issue of Chain Store Age, as well as in an online report on chainstoreage.com.  

The days of traditional brick-and-mortar are in serious transition. As the Internet commoditizes many store-bought products, new ways of thinking are required. Current technology represents retailers' best chance to jump the board. Technology always favors the early adopters.   Here are seven emerging techno-plays that are potential game-changers for physical retailers. Make the move now to be in a position to reap the rewards.   1. Build Smart 

Toys "R" Us is doubling down on its new brand positioning, “Today We Play.”   The retailer announced it has begun testing an augmented reality app, called Play Chaser, in 23 stores nationwide, with a chainwide roll-out planned for Oct. 21. Developed in partnership with PlayFusion, the free app allows users to activate different AR mini games and play experiences on their smart device while in Toys "R" Us stores.   

Brick-and-mortar retailers collectively have staked their claim online, accounting for at least half of U.S. e-commerce sales. The trouble is, most of them are losing money at it.  

With more customer-specific information filtering into retail enterprises, brands are primed to deliver more personalized, seamless experiences. Such efforts not only drive repeat visits and purchases, but also “help retailers to differentiate themselves in the marketplace, and get closer to the customer,” said Tom Moore, industry lead of retail and hospitality at Zebra Technologies.

E-commerce holiday sales are expected to increase 18% to 21% this holiday season, reaching  $111 to $114 billion, according to the annual holiday sales forecast from Deloitte. With online growth eclipsing total holiday sales growth (expected to rise 4% to 4.5%), savvy retailers will be pulling out all the stops to step up their digital game.

Industry experts say retailers need to create an engagement strategy based on individual customer needs — along with the optimal solutions to support their efforts.

Consumers are growing increasingly comfortable using connected devices for daily tasks — and shopping is not far behind.    As more devices connect to chatbots and virtual assistants, an increasing number of consumers are ready to embrace the automation and convenience delivered by IoT technologies. Nearly half of consumers (48%) said they would feel comfortable with a connected device, such as a refrigerator, ordering items on their behalf.  

The acquisition of TaskRabbit allows Ikea to efficiently remove one key barrier (the dislike of furniture assembly) for a segment of customers that have until this point avoided Ikea.  

A new Alexa skill is helping Perry Ellis’ customers dress for any occasion.   The menswear brand is assisting its shoppers with the “Ask Perry Ellis” Amazon Alexa skill. Called the first-of-its-kind, voice-activated skill, the technology supports a modern, frictionless shopping experience that enables customers to use their voice to find the right look, and shop for merchandise.   

Ikea Group has entered the booming market for on-demand services.      The home furnishings giant is acquiring TaskRabbit, an on-demand services platform company that connects customers with workers, called "taskers," that handle everyday needs such as furniture assembly, moving and packing, general handyman repairs, and home improvements. The price of the transaction was not revealed.