Inspite of its huge potential, the penetration of latest technologies in the retail sector is yet to witness a quick growth, since retailers are often pressed for time as they need to fulfill cyclical sales and profit targets regularly, which leads to lower investment in technologies that require infrastructural and talent support.
This is not to say, though, that technology will not be used by retailers at all to improve their businesses. As seen in the examples of brands such as IKEA, Sephora, and Amazon, companies are investing and looking at different ways to understand how they can use technology to improve customer satisfaction, and make shopping a secure, yet interesting experience.
As we enter the year 2020, we can expect to witness a rise of retail innovations and technologies to solve complex issues facing retailers today. These could result into an integrated retail ecosystem which combines technologies like AR, IoT, Virtual Reality, and complex machine learning algorithms together to offer a seamless retail experience to people. Ultimately, an integrated ecosystem like that which bridges the gap between real and digital worlds could be the dream solution to major retail challenges and a fascinating experience for people.