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Joe Kuehne in BizTech writes that 2023 saw customers returning to brick-and-mortar stores. Consequently, retailers should focus more on technology in 2024 to offer the convenience and efficiency that online consumers have become accustomed to.
He quotes Chain Store Age, saying, "To stay competitive, retailers must be constantly renewing and rethinking their customer experience, and in the next 12 months, we will see the digital increasingly merge with the physical, to create new content and ways of shopping to keep buyers engaged."
He then addresses how artificial intelligence impacted retail sales in 2023 and that "as AI continues to gain ground in retail settings, many companies will need to find ways to access the computing power to support their AI initiatives."
Other trends touched upon in the article have to do with edge computing
(a distributed computing framework that brings enterprise applications closer to data sources such as Internet of Things devices); new devices and sensors, from data-rich video cameras to mobile point-of-sale equipment and handheld inventory, and store management devices.
Read the rest of this incisive article here.