Retailers now have more information about their customers than ever before thanks to the advancement of technology. As a result, these businesses are better able to cater the shopping experience to the needs and wants of their customers, which boosts overall sales and brand loyalty. Here are five trends that are expected to have a huge impact in the future if you're wondering which Retail BPO technologies will shape the future of the sector.

The world is online

In fact, according to a recent report by McKinsey & Company, 50% of retailing companies will have at least one e-commerce site by 2022, and 25% of all retail sales will be made online. In the past ten years, online shopping has grown significantly; 20% of Amazon's $60 billion in revenue in 2013 came from online sales. Customers will probably expect retailers to provide free shipping and simple returns as more people shop online or through mobile devices, which will force businesses to reconsider their physical store strategy.

New tools like click and collect, which allows customers to order items online and pick them up without ever leaving their cars, are being introduced by retailers as a response in BPO Company. Stores could also employ show roomers, which are storefronts that don't actually sell anything but instead let customers browse merchandise before making an app-based purchase.

Machine intelligence

Retailers are increasingly using artificial intelligence as a powerful tool to interpret their data. Retailers will have access to a wealth of insights about their customers, products, supply chain, and operations as AI develops and is more widely adopted. Artificial intelligence (AI) can be used in retail to automate tasks like accurately forecasting product demand or helping staff with customer service. Although it's too soon to know what the full ramifications may be, it's safe to say that many aspects of the industry will undergo some very significant changes in the future.

Retailers will be able to add extra features that would make shopping even more convenient as technology advances. By 2020, self-driving cars are expected to be commercially available, and by 2030, it's not difficult to envision a world in which they are the norm. Uber has announced plans for an autonomous car service that may launch as soon as 2019, which is one benefit of ride-hailing apps like it: users can access a driver without owning a car or needing a license.

Personalization

Retail trends like personalization and customization will influence the market. Customers want distinctive products, which retailers can offer with a little work. Because it enables customers to customise their order based on factors like lens type, size, colour, and even coatings, brands like Warby Parker have tapped into this trend with products like high-quality eyeglasses at a lower price. In other sectors, companies like ModCloth give customers customization by making dresses in specific colours and sizes. Customizing products or providing individualised services gives customers more control over their shopping experience and gives retailers a chance to understand what customers want before they make a purchase.

Smartphone Use for Shopping Is Growing

It is not surprising that more people are using smartphones as shopping tools as their use grows. With these resources at their disposal, customers can check out a retailer's website or mobile app and be ready to buy in a matter of minutes. By enabling customers to shop whenever and wherever they want, this is altering the retail landscape. Through this device, retailers can monitor trends for customer needs and design individualized experiences for them. Customers can easily access deals, coupons, and discount codes from retailer websites using smartphones.

Augmented and virtual realities

The way we shop is undoubtedly changing as a result of this new technology, but so are the ways that retailers are designing and operating their stores. Retail software solutions can now integrate AR and VR to give customers the option to virtually try on clothing or view a store from all angles. Due to the creation of completely new channels for retailers to interact with their customers, layouts, in-store placement, and marketing campaigns can now be planned more effectively. Several retail companies, including Walmart, are experimenting with the idea of using virtual reality to reduce physical space without compromising experience.