By David McCracken
I don’t know about you, but it seems every time I’ve been in a Starbucks over the last few weeks, it seems like everyone is scanning their smartphone instead of paying with cash. The retail world is moving so quickly towards convenient technology solutions like these, and it’s showing no sign of slowing down. Craig W. Smith, founder of the New Channels Department at London retail giant Marks & Spencer, gave his predictions for the five pretty incredible in-store retail technology trends we will see in the next year. (Original source: http://retail-innovation.com/)
1. First payment by smart watch
Smart watch payment…because reaching into your pocket or purse is too much effort (not!) Smith predicts we will move beyond paying with cash, credit cards, or even smartphones, to paying with your wrist wear. The smart watch will establish itself as a credible payment instrument.
2. First Google Glass in-store retail applications
Google Glass applications are popping up in the medical and hospitality industries, and retail will soon join them. Retailers will offer applications like customer recognition, personalized concierge services and pick, pack & dispatch.
3. Personalized targeting with beacon technology
Smith says retailers will start to engage customers with location-based personalized targeting. When customers enter a certain geographic range, retailers can send targeted promotions straight to their mobile phones.
4. Pay and go using your mobile
Have you been in a grocery store that allows you to scan your items as you put them into your cart? Picture the same thing…but with your smartphone. In the next 12 months, retail stores will trial software that allows customers to scan items as they shop and pay on their phones before exiting the store.
5. Payment on shop floor will move from trial to full-scale rollout
Some retailers are currently taking payments on devices like iPads, but mobile payment is definitely not without its challenges. Over the next 12 months, Smith predicts that hardware and solution providers will fix these problems, which will lead to more and more retailers adopting them. Mobile payments will move from proof-of-concept ideas into fully-fledged rollouts.
In which of these trends do you see the most potential? What other tech predictions do you have for the next 12 months?