Potloc Insights

Amazon entered the food retail space when it launched AmazonFresh in March 2017 and has found other ways to grow its footprint in the sector, acquiring Whole Foods in the process. The retail giant could open 3,000 cashier-less Amazon Go stores by 2021 according to a recent Bloomberg report. New research from RBC Capital Markets even shows that if Amazon opens the projected number of these forward thinking shops by 2021, the company could generate roughly $4.5 billion in sales a year. So… could Amazon Go become the future of retail? Let’s find out.

Many companies already have an omnichannel strategy. Is this the first time you’ve heard these words? If so, then you are part of the 55% of companies that have not developed an omnichannel strategy.

In this modern era, almost everything we do generates data. That includes purchasing goods online and offline. Understanding these huge volumes of data goes beyond human capabilities, hence retailers can deploy machine learning solutions to make sense of these. Let’s explore such developments, methods, and insights that are modernizing the retail sector.

You may remember the movie “Minority Report” in which the irises of pedestrians are scanned in public spaces. In 2019, this technology is no longer a distant reality, and that includes the retail sector.

Not a day passes by without a new innovation in retail. We have examined the major market trends and identified three innovations from the best retailers that are revolutionizing the customer experience.

Delivering a great customer experience is not that difficult for a small shopkeeper who doesn’t have any employees. It’s all about knowing the products, understanding the customers and doing the right thing for them. When it comes to larger business with multiple employees or, worse, multiple branches or locations, things can get messy.

Doing the right the thing for the customer gets more complicated, and the challenge becomes keeping it up on a consistent basis.