smart retail

Smart retail refers to the integration of traditional shopping methods with modern “smart” technologies to enhance the shopping experience for customers and improve operations for retailers[1][2][6]. This involves the use of a set of smart technologies designed to provide a faster, safer, and smarter shopping experience[2].

These technologies aim to offer a customized experience for customers, making the shopping process more efficient and personalized[4]. For instance, smart retail can involve the use of the Internet of Things (IoT), data analytics, artificial intelligence (AI), and other digital tools to gather and analyze data, optimize processes, and deliver personalized services[1][2][6].

Examples of smart retail technologies include smart shelves, smart carts, or smart cards used in brick-and-mortar retail establishments[7]. These technologies can track inventory, guide customers to products, and facilitate faster checkouts, among other functions[7].

In essence, the concept of “smartness” in retail is linked to enhanced processes and efficiency from the retailers' side, and increased satisfaction and utility from the customers' side[8]. The ultimate goal of smart retail is to create a seamless, efficient, and enjoyable shopping experience that benefits both the retailer and the customer[2][4][6].

Citations:

[1] https://www.viewsonic.com/library/business/smart-retail/

[2] https://luminouspr.com/smart-retailing-better-for-brands-better-for-customers/

[3] https://www.igi-global.com/dictionary/smart-retailing/86590

[4] https://pandorafms.com/blog/smart-retail/

[5] https://www.brisklogic.co/what-is-the-definition-of-smart-retail/

[6] https://www.netguru.com/blog/smart-retail-solutions

[7] https://en.wikipedia.org/wiki/Smartstores

[8] https://www.sciencedirect.com/science/article/abs/pii/S0969698919302978