Digital technology is the wave of the future that has put the retail industry in a battle to keep itself relevant. It is making the old traditional ways obsolete and opening new dimensions and windows for innovation. The technological advances have shaken the retail industry, and the depth of its impact is not merely a battle between virtual and physical stores. This degree of disturbance in the retail industry is rising because of various elements. The ascent of the digitally influenced shopping, the altering nature of retail competition and the tsunami of exponential upcoming advancements have all contributed.
The Current Trends in Retail
The demands and behaviors of mainstream consumers are changing at a fast pace, and the retailers are trying to use technology to satisfy them. Retailers are still struggling to adopt the digital tools to provide the consumer the ultimate customer experience.
While the retailers are struggling to keep up, shoppers are consistently out-maneuvering them.
To capture the market share, it has become important to know what customers want, and this is only possible through IoT and databases.
The technologies that brought down some Titans have also created giants. Those companies who are using the IoT (Internet of Things) and data to their advantage are winning the market. To stay relevant, IoT needs to be utilized which is something HERE lives for.
With today’s geolocation technology, retailers can now drive consumers to their stores to shop and make purchases, without them having to wait in line. HERE can help identify the location of mobile users on highly accurate maps to ensure payment is not fraudulent and can be carried out quickly. Retailers can create geofences to target consumers based on location and offer valuable promotions.
Using Location Data
HERE is the world’s leading platform for map and location services offering support for the companies that demand innovative location intelligence. It is a cloud-based, online application based on a sound basis of worldwide map content and knows that the IoT depends on the safe and reliable operation of data.
HERE Location Platform is a productive tool that can easily allow businesses to integrate location functionalities in their applications. It is a fully featured location platform that delivers a broad range of business specific practicalities backed by compatibility and relevance of multi-devices. Location data usage is essential for digital transformation of retailers.
For more information, contact HERE Mapping Resources at 888-848-4436.