Retail: Building connected stores

Trend 11: Connected retail stores with 5G, Edge

Building smart stores and creating interactive user experiences using 5G and edge computing are priorities for retailers. Edge devices such as sensors and cameras in stores can help understand product interactions and movements in the store. Insights garnered from the analysis of consumer behavior can aid in building personalized consumer experiences. Analysis of interactions between customer representatives and consumers can provide additional ammunition to improve customer service further.

Ultra-low latency and large bandwidth provided by 5G-powered real-time analytics would help store executives assist customers in their purchases. 5G-powered edge platforms can also help in optimizing store operations and inventory management. Insights on consumer demands and expectations, reliable connectivity, and effective store management would be pivotal in creating highly profitable retail stores that provide the best customer experiences.

A large US retailer enhanced its in-store experience. Infosys as its partner, banked on 5G, edge capabilities and the retail storefront analytics platform to make this happen. Handsfree shopping provided a safe shopping experience in COVID-19 times. At the same time, real-time store statistics and insights on purchase patterns led to effective inventory management. As a result, the firm increased its in-store conversion rate by understanding its customers better and elevating their experience.