Almost every day, a new study extolling the phenomenal expansion of the interactive digital kiosk in the retail sector and in automated retail industries is released.

According to a January 2019 report by Grand View Research, the global interactive kiosk market will reach $41.88 billion by 2025, increasing at a compound annual rate of 8.9% from current levels. Increased consumption in the retail sector will contribute to this expansion.

In a 2017 post on the retail news site, Luke Wilmerding, director of retail solutions at interactive touchscreen vendor Elo, argued that retailers of all sizes may profit from employing interactive technologies in-store.

Many merchants are experiencing the benefits of incorporating interactive digital kiosk in retail sector,  into their business.
To tackle the limitations of exhibiting the company’s customized closet designs in stores with limited square footage, California Closets, for example, is employing kiosks in its remodelled “Showroom 2.0” locations. Close rates and average order values have increased in stores where the kiosks have been installed.

Millennials are devoted online shoppers, but they still seem to crave the rush of physically entering a store, browsing, and selecting the ideal purchase. According to Deloitte’s 2018 Millennial Survey, about half of all young people still shop in a physical store at least once a week. It’s not just Millennials’ credit cards that are being swiped at checkout counters. According to the International Council of Shopping Centers, 93 percent of shoppers visited a brick-and-mortar store during the 2018 holiday shopping season. As a result, the potential for using linked services to enhance the shopping experience in physical locations is enormous.

Retailers whether you operate a virtual or real store, a customer’s technological experience can determine whether they buy or leave. Nike’s ‘House of Innovation’ omnichannel offers convenience features like mobile-checkout and customized lockers that can be operated using the customer’s smartphone. Audi is using virtual reality showrooms to offer a personalised, immersive consumer experience, while Topshop’s ‘VR waterslide’ experience lead to a 100 percent rise in swimwear sales. To create those experiences, a technologically advanced store needs have adequate connectivity. Data is generated as a result of customers using your store: what’s popular and what’s not, typical customer stay times, and what retains customers longer and therefore more likely to buy. All data that can be used to improve a customer’s experience while also increasing profits.

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There is more research on the kiosk industry status here.

The enhanced visitor experience that arises from the use of IoT technologies in retail contexts is the most crucial benefit for a great digital in retail experience. However, experience enhancement is just one of numerous IoT benefits. Here are ways that connectivity can help you shop better:

Inventory should be optimized.
There are few things more aggravating than losing a transaction due to a lack of stock. It’s awful for the customer and bad for the business, but merchants can track how goods are selling and arrange replenishment deliveries accordingly by adopting IoT technology from product shelving to connected vending machines. IoT can also help retailers identify purchase trends, allowing them to order more of the most popular things and keep them in front of customers’ minds.

Connectivity enables retailers to update digital signage on the fly, resulting in more effective advertising and more sales. Data mining, for example, can disclose information about customer patterns and sales figures. This enables retailers to change signage over the air (OTA) to reflect real-time information, such as directing shoppers toward snow shovels, mittens, and snack items as they prepare for a sudden cold snap.

Customers who come in during the day are more likely to browse, but those who come in during the evening want to get in and out quickly. Cost-effective messages that alter to match real-time customer needs are possible with dynamic signage and certainly helps digital in retail vision.

Providing a service similar to that of a concierge
Personal shoppers are now only available in high-end department shops and luxury boutiques, but this pricey service is destined to become totally democratized owing to mPOS technology. Sales associates will be able to rely on buyers’ online and offline behaviors to create a tailored experience that converts every shopper into a VIP by allowing them to learn more about a client’s store history.

You can work from wherever.
Stores will no longer need to establish fixed lines or waste retail space with enormous cashier stations since cellular-enabled POS systems will allow them to make a sale wherever a customer is. This buy-now method not only improves service and aesthetics, but it also helps to increase sales. Completing a transaction swiftly while the customer is basking in the glow of trying on a new piece of apparel reduces the likelihood that they will consider what’s in the store around the corner!

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