Software Development Ideas for the Retail Industry

1. Software Development Ideas for the Retail Industry The retail sector is evolving rapidly. It isn’t merely the conventional give-and-take business anymore. Instead, it has become more experience- and technology-driven. Consumer experience and technology are closely intertwined elements. The fact that 20-22 percent of retail purchases happen online says a lot if not everything about technology in retail. Accordingly, the highly competitive retail sector has been agile enough to adapt and integrate technology across various areas. However, technology is as dynamic as the retail business. Hence, the future potentially holds some interesting surprises in the form of changes. Technology will continue to play a significant role in transforming the retail sector in the future. But what is it that we might get to see as the future unveils? This post attempts to explore some software development ideas useful for retail players as users and every custom software development company in SA as the developer. Custom Software Development in Retail - 6 Software Trends in 2024 With experience, precision, and personalization becoming important drivers of growth in the retail sector, we project these technologies emerging across the retail horizon. 1.Indoor Positioning Systems (IPS) IPS enables users to navigate indoors where GPS is not applicable. Indoor positioning simplifies user navigation and helps consumers move across a store easily without manual assistance. Hence, nearly 50 percent of retailers plan to implement IPS to enhance customer experience. On the other hand, consumers also know about it. Sixty to 65 percent of retail consumers expect their retailers to provide IPS assistance! However, IPS isn’t confined to navigation. It helps with personalized recommendations and proximity-based marketing. Further, it can help retailers gather precious customer behavioral insights and align their market strategies.

2. 2.AR-Driven Immersive Shopping Amongst the most significant challenges of online shopping is the inability to try products before buying them. Of course, you cannot try every product before purchasing it. However, a few of them like apparel, accessories, furniture, etc., could be tried virtually before ordering them. The technology that can make it possible is Augmented Reality (AR). Integrating AR would enable retailers to allow their customers to try products in a more immersive and realistic manner. While helping accelerate the decision-making process, it would also help reduce the number of returns. Partnering with a custom software development company in SA can help retailers develop a personalized AR solution to deliver blissful consumer experiences. 3.Cashier-Less Shopping You must have heard about Amazon Go! It is a retail experience at a completely different level. How? It is a cashier-free physical store wherein people enter, shop, and leave without interacting with anyone. That’s casher-less shopping, people! Grabango is another example in this regard. Such stores have sensors and deep learning algorithms that can scan the products every customer picks up, and keep adding them to the virtual cart. Once the customer leaves the shop, the system closes the list and charges the total to the associated account. It proves convenient as people don’t have to carry money or cards with them and avoid long cash payment queues. Further development in this trend could include developing an application that can read barcodes and QR codes. So, people wouldn’t even need to pick up things to explore them. The technology doesn’t require human-to-human interactions. Hence, it could be a turnoff for many who love interacting with people and nurturing relationships. But especially when it comes to saving time and effort, cashier-less shopping would be the technology retailers should look at implementing. 4.Omnichannel Shopping Alternatives Retail shopping isn’t linear anymore. Customers usually interact with a retail brand across various channels and touchpoints before they buy something. Accordingly, retail brands should adopt interconnected technologies to efficiently help leads navigate every phase of the retail experience and journey. So, what should retailers do? At the outset, they should partner with custom software development in SA to develop an intuitive, dynamic, and mobile-friendly website. Additionally, they should give consumers various mediums of interacting with a particular brand. It could include a website, a mobile application, and a physical store. Many top retail brands are doing it. Hence, those aspiring to compete in their league and deliver fabulous customer experiences should get inspired and follow. 5.Pricing Automation Automated pricing requires retailers to have software to set product prices based on variables of importance. It helps retailers set prices to optimize their profitability for online and physical stores. What else? Automated pricing will also help reduce employee workload and the effort involved in setting prices manually. Furthermore, the technology can help the retail sector tackle human

3. resource shortages and enhance productivity significantly. In addition, pricing automation enables retailers to deliver more value to their customers through limited-period discounts and offers on various products. 6.Voice-Driven Shopping Shopping by talking –yes that’s another potential software trend in the retail industry. Voice shopping allows retail customers to speak with a virtual assistant and look for products they can add to their virtual cart. Once they are done adding items to the cart, they place the order and await delivery. Thus, customers wouldn’t have to type the product name manually. All they have to do is say out the product they’ve been looking for and receive the order at their doorstep – next-level customer experience, isn’t it? Final Words With retail, technology will also grow and evolve. That’s because consumers love interacting with technology. Hence, they are likely to go to retailers who have it. Accordingly, whether you are a small retailer or amongst the big shots within your region, you should invest in strengthening your technology muscle and do what’s necessary to thrive amidst the competitive retail environment. FABTARY, a reliable custom software development company in SA, can help you in your technology adoption endeavors. The company’s comprehensive support includes software consulting, development and technical support. It lets you embrace technology to the required extent and align your business better with contemporary expectations. Write to info@fabtary.com to explore more about FABTARY’s custom software development capabilities and support.