The Battle for Offline: What Innovations can Help Traditional Retail Combat the Advance of Online Stores?
The coronavirus crisis has been challenging for the entire retail sector. According to experts at McKinsey, retail jumped forward 10 years in 90 days by implementing digital technologies. Over recent years, market players have tended to collaborate in search of innovative technologies in retail, for example, with contactless payment, remote management by staff and trade platforms, automated customer service assessments and personalized settings. Retailers are implementing payment systems with the aid of biometrics and mobile apps, developing express delivery, and using augmented reality to navigate stores. Virtual fitting rooms are gradually replacing traditional ones, while robots are replacing human store assistants. Talking shop windows, electronic price tags, and ‘smart’ shelves and mirrors giving customers advice on what to buy have stopped being mere pie-in-the-sky ideas. What are the next innovations that will change the industry? What technologies can local offline leaders use?
Elena Tofanyuk, Journalist, Editor, YouTuber
Andrey Alekseenko, General Director, Teradata Russia
Mikhail Kuchment, Сo-founder, Hoff
Svetlana Mozhaeva, CEO, Familia
Artem Sokolov, Managing Partner, SOKOLOV
Irene Shvakman, Co-founder and Chairman, Revo Technologies