The retail world has experienced massive growth in technology solutions over the last few years. All of the trends that are affecting the corporate world are also impacting many systems within a retail business.
Last month, Forbes released a list of predictions about the trends that will play a major role in the retail world in 2014. Some of the hottest buzzwords like chip technology that can track customers as they stroll around the inside of the store, mobile devices and big data that is used to improve big data and sales reporting.
Also on the list is the use of cloud computing. The study found that many traditional solutions have the ability to be optimized to take full advantage of a virtual infrastructure. However, the cloud infrastructure can also be used to integrate various new technologies like mobile devices. All of this increases the need for broader, omni-channel strategies.
"Cloud computing and mobile platforms hold great promise for retail, enabling retailers to capture and analyze customer data, and to make highly relevant offers, all in real time," the article reads. "Cloud computing lets you capture and deliver customer data to and from every touch point at the moment you need it. So … you know exactly what coupon, game, app, text message, or other means of engagement to use with [each customer] specifically."
The retail landscape is changing dramatically because of the influence of the latest technology. With the help of a payment solution provider that specializes in cloud-based payment solutions, any merchant can be in a better position for the future.