As a consumer, when you think about the invention of the computer, most of what you consider will be surface values — everything you can do with it. Watch cat videos, stalk your ex, get your information stolen, and plenty of other fun and exciting stuff.
While these direct implications are more obvious, it’s the indirect results that people often overlook. For example, the thousands of jobs that were created to help manufacture these computers and their processing units. Or, the thousands of jobs, services, or paid utilities it displaced now that people can get personal access to computers.
While it may not be crucial for consumers to know the direct and indirect implications brought on by technological innovation, as business owners, potential business owners, and advertising agencies, you should be highly motivated to understand the entire gamut of the results it bares – especially for retail technology. While these reasons may be obvious to some, they are concealed from others either by a lack of intuition or understanding.
This being the case, as growth consultants with a heavy presence in the technology and retail world, we find it necessary to break down and identify all the direct and indirect ways retail technology has been changing the world inside and around it. Some of which include an impact on the customer, retailers, potential retailers, and lastly, growth marketing consultancies.
Direct Results –
1. Customer shopping experience
There’s no doubt that some of the innovative retail tech that has been surfacing in the industry has had a profound effect on customers and their shopping experiences. However, depending on how you look at commerce and your own existent or non-existent shopping addiction, you may have good or bad feelings towards this type of tech.
On the positive side, retail tech has enabled shoppers to have more pleasant and seamless shopping experiences. For example, the IKEA AR app lets you see what furniture in your room or house looks like before you buy. Given the stress and frustration often associated with furniture shopping, this is an incredible application for customers.
However, when you start considering retail tech on the data analytics, tracking and targetting side, there are some downfalls. No one likes getting stalked by retailers as they cruise through the internet. Or having digital buyer profiles being built for them without their knowledge.
As a customer, retail tech can have great but also sucky implications. But we feel confident that the good outweighs the bad – even for the most addictive shoppers. And the same goes for retailers themselves.
2. Retail Management
The next direct implication of great retail tech has to do with the benefits it provides for active retailers.
Retail tech products and services are tools. And like any good tool, it should make you better at what you do. So is the case for retailers and their increasing reliance on tech products that help propel their sales and store forward.
A large percentage of retail technology being made has to do with inventory management and fulfillment. What this means, baked down to its simplest form, is less work for employees and managers. And perhaps less money or employee effort being spent on tasks and time that can be allocated elsewhere.
While active retailers are a part of the majority and the more direct ways in which retail tech is beneficial, there are also other entities who benefit a little more indirectly from these innovations in retail technology.
Indirect Results –
1. The Enablement of New and Aspiring Retailers
As stated, active retailers and consumers reap most of the direct benefits associated with retail technology. But those that are often overlooked in regards to the application and use of retail tech are potential business owners and retailers.
Take Shopify for example. A great, and incredibly easy to use piece of retail technology that pretty much lets anyone start there own retail or ecomm business. And Shopify is just one of a 100. There are endless retail tech tools, tutorials, and platforms that enable aspiring retailers and business owners to get up and actually start their ventures.
Without these incredibly unique retail tech products, those seeking to jumpstart their retailer or business may face more difficulties or hurdles along the way that would otherwise be mitigated by the retail tech tools we use today.
While budding retailers or ecomm dreamers might benefit indirectly from the fruits of retail tech labors, so does another entity. One that we are incredibly familiar with.
2. New Industries Mean New Marketing
If you consider yourself a performance marketing agency, you better intend to have your finger on the pulse of all things everything. Ever industry update, every market shift, every regulation update – all these things will help you do your job better and take brands and companies where they need to be.
Rock Candy Media considers ourselves a performance marketing agency. And not just because we keep up with times. It’s because we accelerate time itself.
When retail technology began casting its footprint in the world we knew it was something we had to chase. Just like the other Austin digital marketing agencies, we recognized it was a trend worth pursuing.
It was a ricochet that made us start chasing retail technology so much. It was an indirect result of a new industry being born that made us start digging into a new topic so vivaciously. And now we’re hooked.
Out of the various digital marketing strategies we’ve pursued and developed, Retail Tech gets us going. The rules are still left unwritten how you market this particular industry. But our ink is wet, and we’re ready to make history.