5 Investments in Technology that Reflect Current Retail Trends

Here are 5 investments in technology that are in line with current retail trends

Globally, there has been a decrease in venture capital (VC) funding since late 2021. Monetary business sectors have become tight and VCs have become more knowing, therefore. They are not only spending more time screening businesses, but they are also gravitating toward solutions that have immediate financial markets fit instead of betting heavily on long-term potential. Here is the list of 5 investments in technology that reflect current retail trends.

1. The shopping experience in stores is ripe for both fundamental and creative enhancements:

Improving the in-store experience is still, by far, the largest opportunity for retailers when considering the size of the market and where traditional retailers will receive the greatest return on investment. But where do we begin?

Digital shopping channels have already solved or eliminated many of the issues that plague traditional retail establishments.

2. There is a lot of untapped potential for brands and retailers to form beneficial relationships:

Partner at VMG Catalyst Brooke Kiley talked about ideas that give brands access to more stores and bring in new customers to the stores that sell their products.

Customers of Rowan can schedule an appointment for an ear piercing online, then visit a nearby Target to purchase the earrings and have their ears pierced.

3. The way people search for products is already being altered by generative AI:

There has been a lot of talk about ChatGPT, and at eTail West, the focus was on how it can be used in retail. Customer service enhancements and enhanced product discovery seem to be the most immediate applications of natural language processing. In the long run, retailers are thinking about using it for task automation, advertising, marketing, and coding.

4. With the assistance of tech companies, retailers are figuring out how to monetize live streaming:

When looking at trends, it's important to take into account the size of the market and how other countries are using technologies. According to eMarketer, live-streaming e-commerce was responsible for $514.20 billion in sales in China in 2022.

5. Getting to know customers at their current point of sustainability:

More people than ever are saying that they want to shop sustainably while also wanting fast fashion at low prices. In the United States, producing and operating sustainably necessitates government regulation and typically comes at a higher cost.