Role of Digitalization in Retail Transformation

The retail industry grows on a physical outlet’s capability to keep its customers satisfied and involved. A Smart Store of the Future must adopt a diverse ecosystem of next-generation technologies enabling interaction, engagement, and response to the end customer. Retailers can gain the capability to enhance their performance with the help of a robust technological foundation; this can further extend the retail business model to generate incremental revenues, diversify customer touchpoints, and gather deeper customer insights for a superior retail experience. 

Through this whitepaper, MarketsandMarkets aims to provide a brief overview, including the latest trends and transitions in the retail industry. The retail industry can adopt digital transformation faster with the help of technology-enabled solutions provided by an ecosystem of solution providers, ranging from Independent Software Vendors (ISV), to emerging unicorns and start-ups. A considerable effort may sometimes be required to create, deploy, and manage a successful use case at scale. Hence, retailers often prefer a platform approach that allows them to use investments across projects for easier innovation. The content of this whitepaper delivers insights on use cases, such as retail Point of Sale (POS), interactive kiosks, and smart shelves, which offer growth opportunities to ISVs and retail original equipment manufacturers (OEMs) in developing advanced and customized solutions. This whitepaper also highlights the adoption of emerging technologies helpful for solutions offered by ISVs/OEMs, such as Smart Payments, Natural Language Processing (NLP), and Computer Vision, to meet outcomes expected by retailers. 

Retail OEMs and ISVs can use insights from this whitepaper to focus on transforming retail solutions through Dell Technologies OEM Solutions portfolio powered by Intel® retail technologies and solutions. Dell Technologies OEM Solutions and Intel® are working to empower intelligent customer experiences with Edge IoT solutions. Pre-configured, pre-validated solutions combine the Internet of Things, Computer Vision, Edge Computing, and Data Analytics to deliver customers’ insights and experiences.