NRF 2015: The Future of Retail [Infographic]
Trade shows often serve as a vessel for innovators to show off the new technology and services they’ve developed with high-flung claims of “groundbreaking” and “industry-changing.” Instead of looking ahead to an uncertain future, the trends that will shine through the hype this year at NRF2015 are grounded in the reality of a shift in the retail industry.
With the EMV deadline fast approaching this fall, retailers are looking for solutions with integrated chip and pin payment technology that will keep up with regulatory standards, limit their fraud liability and help keep consumer data safe from cyber-criminals.
And it isn’t only payment compliance requirements that are changing. How and why consumers are spending their money has shifted from curiosity to science. Consumer research has revealed that fewer shoppers are exclusively focused on online shopping or brick and mortar stores than ever before. As consumers grow to expect retailers to be as technologically savvy as they are, retailers have to expand their sales program to include physical stores, an online platform, and the ever-increasingly popular mobile platform to create a true omni-channel shopping experience.
We also expect NRF2015 will bring increased interest in 4K display technology for in-store digital signage. As retailers compete for shopper attention, 4K images can help capture eyes with realistic images that can faithfully reproduce the textures and colors of a model’s clothing and accessories, for example.
2015 will be the year retailers start to broadly apply facial search and recognition and other analytics as part of their surveillance solutions. Cameras equipped with facial recognition software can capture face images that can be used to match against a database of enrolled target faces or to search previously recorded video and provide notification of positive matches. This system alerts store managers to the presence of known shoplifters, helping to minimize shrinkage. Cameras that offer advanced analytics can track store traffic patterns and dwell time, and includes a people-counting function that helps a store analyze a customer’s movements. This data can help retailers optimize in-store marketing strategies.
Just in time for NRF2015, we’ve created an infographic to illustrate some of the aforementioned trends, including sources of shrinkage and likelihood of employee theft. Do you foresee any of these numbers changing in the next few years? Share your feedback with us!
And if you’re attending NRF next week, we encourage you to come by booth #1633 or book a meeting with a Panasonic retail expert to learn more.