OYSTER BAY, N.Y., Dec. 14, 2017 /PRNewswire/ -- As e-commerce continues to dominate sales growth with an expected share of 25% in 2020, retailers are faced with having to improve customer experiences and better operationalize bricks and mortar shopping to eventually enable the blending of the two channels. ABI Research, a market-foresight advisory firm providing guidance on the most compelling transformative technologies, has identified several solutions and innovative companies that look set to enable a retail revolution.
Technology is propelling these growth rates and making the shopping experience easier and faster for consumers. Key technologies driving successful retailers include visual interactive displays and digital shelf monitoring. Visual interactive displays provide shoppers real-time product information and the ability to buy in-store or online; digital shelf monitoring is allowing stores to streamline inventory auditing and ordering practices to provide more time spent with customers. "Both in-store and online technology needs to be widely implemented for retailers who want to compete and succeed in the rapidly-growing mobile-shopping lifestyle," explains Andy Sweis, Principal Analyst at ABI Research. "These types of technologies are what differentiate from the online shopping experience, where there is less human interaction and entertainment," Sweis adds.
But, who is propelling the technology? In its Smart Retail Hot Tech Innovators Report, ABI Research has named the technology innovators that are driving Smart Retail and shaping its future. Ranking criteria included identifying the companies that are the fastest growing in the retail technology industry based on the number of implementations internationally, and the amount of funds raised from capital investors that will continue to fuel their growth. The startups, tech providers and technologies highlighted in this report present exciting offerings that all retailers should explore. Included are various startups in the areas of IPS (Indoor Positioning Systems), smart barcode scanning, mobile analytics, and visual interactive displays.
The Smart Retail Hot Tech Innovators for 2017 are:
- Digimarc – Barcodes and Scanners
- Senion – Indoor positioning Systems
- Perch Interactive – Visual Interactive Displays
- Volare/Cloud4W – Location Analytics
- Heap – Ecommerce Tracking and Analytics
- Trax – Shelf Analytics
- ViSenze – Visual Commerce
"This report will help key executives and decision makers in the CPG (Consumer Packaged Goods), retail and tech sectors evaluate and choose which technologies they can utilize to enhance in-store and online purchase behaviors. These innovative vendors and technologies will be conversation starters and key topics in the boardroom," Sweis concludes.
About ABI Research
ABI Research provides strategic guidance for visionaries needing market foresight on the most compelling transformative technologies. ABI's own research visionaries take stances early on those technologies, publishing groundbreaking studies often years ahead of other technology advisory firms. ABI analysts deliver their conclusions and recommendations in easily and quickly absorbed formats to ensure proper context. Our analysts strategically guide visionaries to take action now and inspire their business to realize a bigger picture. For more information about ABI Research's forecasting, consulting and teardown services, visionaries can contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, and at +65.6592.0290 in the Asia-Pacific. Or, visit www.abiresearch.com.
SOURCE ABI Research