Shivaprakash Nagaraj
AVP Head of Product Engineering

As we approach 2025 in 3 months, this press release outlines the key retail trends that businesses should watch closely in the coming years to remain competitive and meet the demands of their customers.

Increase in the Utilization of AI and Machine Learning
Artificial intelligence (AI) and machine learning (ML) are revolutionizing the retail industry by enhancing sales, profits, and customer experiences. Retailers leveraging these technologies have reported a staggering increase in sales up to 2.3 times and profits by 2.5 times compared to those who do not utilize AI/ML solutions.

In-Store Automation - Retailers are deploying cleaning robots, chatbots for customer inquiries, and advanced inventory management systems that provide real-time data on stock levels and product placements to reduce shrinkage and elevate the overall shopping experience for consumers. According to a report by Gartner, global chain retailers are targeting to invest in in-store technologies to reduce internal shrinkage by 50%.

Smart Checkout Solutions - Convenience at checkout is paramount in today’s retail environment. Self-service kiosks, grab-and-go stores, and mobile checkout options are becoming standard features in many retail locations.

Omni-shopping
The Omni-shopping trend allows customers to switch effortlessly between different touchpoints while enjoying consistent service, flexibility, and convenience, across all platforms, such as online, offline, and mobile shopping. With the rise of social media commerce features and mobile apps offering personalized deals, omnishopping is set to redefine customer journeys significantly.

Immersive Customer Experiences
Immersive experiences like virtual try-on technology are transforming the retail landscape by allowing consumers to visualize products like clothing, accessories, and makeup on themselves using augmented reality.

Resale Marketplaces Expansion (Thrifting)
According to recent reports, resale marketplaces grew 15 times faster than traditional retail sectors in 2023. Platforms like eBay, Vinted, and Depop are leading this trend as they cater to consumers looking for sustainable options while also appealing to their desire for distinctive vintage items.

Phygital Retail
Phygital retail merges physical stores with digital experiences through technologies like VR and AR. This hybrid shopping model aims to create cohesive experiences that cater to modern customers’ expectations for seamless transitions between online and offline interactions.

Voice Commerce
Voice commerce is gaining traction as more consumers use virtual assistants like Amazon’s Alexa or Google Assistant for hands-free shopping experiences. Retailers are investing in voice commerce capabilities to meet this growing demand.

About Digit7: Digit7 is at the forefront of transforming retail and hospitality sectors through innovative technology solutions that leverage artificial intelligence and machine learning.

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