Retailers must step up tech game in a safe way.

Position:Use of artificial intelligence software for safer online strategy to collect and store customer data

In the highly-dynamic market, retailers must invest in new and upcoming advancements to upgrade store infrastructure and stay up-to-date with current industry trends. Furthermore, technology allows continuous connectivity and the seamless transfer of data across the various devices. As a result, it becomes convenient for retailers to offer premium shopping experiences to retain old and gain new customers.

As e-commerce gains popularity, brick-and-mortar retailers need to improve in-store infrastructure to increase footfalls successfully. Retailers can use people counting to gain a better understanding of the critical drivers of store traffic and identify customer shopping patterns to improve conversion rates.

Brick-and-mortar retailers can also gain customer data through other concepts such as heat-mapping analytics. This allows them to identify the popular areas and the success rate of promotional strategies in-store. Many firms also heavily rely on Wi-Fi analytics to gain capabilities in a highly-competitive market. It helps in effectively managing the day-to-day operations within the firm. Moreover, it helps to gain an understanding of the areas that require improvement and track assets...

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