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Smart retail is one of the primary areas where information and communication technologies can help people live better lives and expand their businesses. People’s shopping habits are rapidly shifting.
People are increasingly going to real stores solely to try things on before comparing costs and purchasing online. Traditional brick-and-mortar businesses are aggressively seeking out novel ways to attract clients.
Smart Retail strives to enhance local companies by bringing new techniques to identify client movement, intentions, and shopping profiles so that more personalized services may be provided.
The Europe Smart Retail Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
One of the Industry leaders that makes excellent use of this technology is Sephora. Sephora was able to stay relevant throughout the COVID-19 pandemic by letting consumers try on makeup products from the comfort of their own homes using only their smartphones.
Users look into a virtual mirror (their smartphone’s display) to see how they would look with the product applied, similar to how they would test on makeup in real life.
The version from Ikea allows users to do a lot more than just look at the size and shape of furniture. Ikea Studio can leverage iPhones’ unique LiDAR technology to visualize interior design like never before by displaying rooms, measurements, windows, doorways, and more.
Mercedes uses artificial intelligence (AI) virtual assistant technology to help automobile owners become more familiar with their vehicles. The user can tap and learn about features available to them by pointing their device’s camera at various elements of the vehicle. This type of technology allows drivers to be briefed on how to properly operate and maintain their automobiles.
