What part will emerging technologies like VR, AR and beacons play in the future of retail? Recently, some of our team attended iDisrupted Live, an event focused around technology and innovation in the retail space. OLIVER Content Marketing Manager, Carina Jeppesen, shares insights and takeaways from the event.

The iDisrupted event brought retailers and emerging tech suppliers together to discuss the future of retail innovation. Among the technologies were 3D printing, Virtual Reality (VR), Artificial Intelligence (AI), Beacons and Augmented Reality (AR) technologies. Speakers from John Lewis and Argos shared their vision of the future of retail.

Argos on their ‘future of retail’

Jo Hickson, Group Head of Innovation for the Home Retail Group, shared her vision of the future of retail through Argos’ recent store and customer service changes.

Partnerships will be key. Argos already partners with Sainsbury’s and Homebase through small-format digital stores. Hickson suggested that more retailers would be entering these types of partnerships to reach more customers.

Store layouts as we know them will change. The advent of screens, facial recognition and automation will see store layouts moving towards providing more personalised experiences. For example, in their new ‘digital stores’, Argos has a screen that targets visitors by welcoming them into the store. Hickson mentioned a not-too-distant future where facial recognition would change screen displays according to whether it was a man, woman or child looking at the screen.

Frictionless retail. A major pain point with retail is when it comes to returning items. Hickson said, “We know that customers already consider how they are going to return an item while they are in the process to buy. I think we are going to see more frictionless retail in the future.”

Personalisation is key. Customers want to make things their own. 3D printing will have a greater role to play in the future. Hickson introduced Argos’ jewellery range, where customers were able to create their own piece of jewellery using 3D printing technology and precious metals. “We are looking at more ways to make things more personal.”

John Lewis on embracing experimentation

John Vary, IT Innovation Manager at John Lewis, shared his methods for injecting innovation and a culture of experimentation in even a traditional brand.

Within the last year they have used 3D printing, Augmented Reality and other technologies in an attempt to engage consumers in-store and excite them around their furniture offerings. For example, Vary mentioned how his team had created a ‘try before you buy’ station in-store. They created 3D printed mini sofas, which when used with the in-store fabric swatches, would create a visualisation of the final design on a nearby screen. Other recent projects included an iPad psychometric test which would book you an appointment with the John Lewis design centre or send you a mood board of your interior design tastes.

Vary explained that the intentions with these technology adoptions were to compel people to come into the store; to create an experience that customers would want to be part of. His motto is, “Innovation is a philosophy, not a process.” He encouraged retailers to bring playfulness and experiment with their store experience through adopting emerging technologies.

When asked what his thoughts were on how to get senior management on board with a more experimental attitude towards technology he said, “The challenge is not changing minds in a traditional company with a long heritage, the problem is being overwhelmed by technology. You may want this screen on the shop floor, but why do you want it? Make sure you take the C-suite on a journey.”

Retailers must be ready to face change

In conclusion, the digital space is changing fast and consumers’ habits are changing with it. As online shopping becomes the norm, retailers must use the store space to create more immersive experiences to entice visitors to the physical store. The retailers leading the way expect emerging technologies to play an even bigger part in personalising customer experiences in the future.