These technologies will fundamentally change retail

Which hot topics will the retail industry be talking about at EuroCIS 2024?

A woman and two men stand at a shopping cart at a trade fair and try out a hand scanner; Copyright: Messe Düsseldorf / A. Wiese

05.02.2024

by Julia Pott

Technological development is advancing in leaps and bounds. The retail industry is also feeling the effects. To experience the latest products and find out about current topics, the who's who of the retail industry meets regularly in Düsseldorf at EuroCIS – and will do so again in 2024 from February 27 to 29.

We asked some of the exhibitors at EuroCIS which brand-new trends they should have on their radar and which technologies will inspire their customers in the coming years.

What will shopping and paying look like in the future?

Technological developments are having a major impact on how people pay in stores and online stores. After contactless card payments and cash recyclers, payments with smartphones and wearables are making their way into brick-and-mortar retail, the keyword being mobile payment.

Mobility and flexibility are also at the forefront for retail employees on the store floor, as Stephan Kück from Computop knows: “With new devices come new possibilities – just think of SoftPOS/PhonePOS: card acceptance on smartphones. But the high level of security that customers expect can only be achieved and maintained through constant further development.”

In addition to security, convenience is the main focus when paying – whether online or offline. Christine Bauer from CCV confirms that this cross-channel networking is essential: “In an omnichannel scenario, the payment process is anchored anywhere – e.g. at home on the sofa in the online store [...] or at the in-store checkout. It is important that the system in the background makes no distinction – the goods purchased online must also be refundable in-store and vice versa.”

Just like in e-commerce, customers appreciate a choice of payment options in-store, including self-checkouts or self-scanning plus self-checkout via app. And the most convenient of all payment experiences is also becoming more and more of a reality: the invisible, automated payment process in smart stores. This is what Carsten Wulff from LS Retail observes: “According to reports from Statista, the number of autonomous grew globally from just 350 in 2018 to 7,250 in 2023. As the technology needed to run these stores becomes simpler to use and run and more affordable, I expect we’ll see more and more autonomous stores pop up.“ Customers welcome the convenience and speed, while retailers can reduce personnel costs, adds Wulff.

Are you interested in finding out about the latest payment solutions? Payment and Seamless Store are hot topics at EuroCIS – the Leading Trade Fair for Retail Technology. Come by on 27-29.02.2024 in Düsseldorf and become an expert.

Payment & Checkout: What developments are EuroCIS exhibitors observing?

The payment process completes the customer journey [...]. The final – positive – impression is created with the successful payment, including the smooth redemption of a voucher or bonus points.

Self-checkout and mobile self-scanning technologies, are streamlining the checkout process, eliminating the boring part of physical retail: waiting in line.

The best payment process is the one that is quick and easy and gives consumers a feeling of security. Wallet payment on the smartphone, biometrically authenticated, is already way ahead of the game.

As in every other industry, as a payment provider we want to and must continue to optimize security, convenience and usability – also in order to remain competitive in the international environment.

A personalized customer journey across all channels

A convenient and smooth shopping experience is of course not only crucial at the checkout, but throughout the entire customer journey. Whether it's returns, loyalty cards, product suggestions or offers, omnichannel integration is important to ensure there are no breaks in the customer experience.

Well connected and with personalized services? That's what the exhibitors at EuroCIS – the Leading Trade Fair for Retail Technology will be offering you from 27-29.02.2024. Connected Retail and Customer Centricity will be two of the hot topics everyone is talking about. Be part of the hype!

The personalization of shopping experiences is a natural consequence of this trend: what consumers are used to from online retail and digital media, namely a tailored, personalized experience, must also be offered by brick-and-mortar retail, says Mitul Jain from Refive.

To do this, retailers need to access data and use it to meet customers' needs as precisely as possible - ideally with the help of AI. Omar Tello from Sensalytics also recommends this: “Today's customers want one thing above all else: no time to waste and fast, efficient, good advice. That's why it's important to create time for product inspiration and personal service. And machine learning and automation is a great way to do that.“

What opportunities do EuroCIS exhibitors see resulting from Connected Retail & Customer Centricity?

A truly seamless experience is when digital and in-person go hand-in-hand, and the customer feels understood and valued by a brand.

Customer Centricity means ongoing effort to know your customers better – learning from every interaction and every purchase to provide an experience that more closely matches their needs and even goes so far as to predict them.

Customers want products sent to their homes that are not available in the desired shape, color or size in the store. Intelligent solutions can solve these problems today and improve the customer experience in the long run.

Machine learning will allow retailers to provide a more timely and personalized shopping experience to consumers.

Retailers need to provide the same level of personalized experience that customers have gotten used to online. It’s worth it since prioritizing personalized and customer-centric engagement builds loyalty, and ensures long-term growth.

Solutions and expert advice for you at EuroCIS

Artificial intelligence (AI) can be used for more than just the personalization of services and an individual marketing approach to customers. AI and machine learning (ML) will play a prominent role in many areas of retail in the future.

This is because these technologies enable retailers to analyze data in real time and gain better insights with less effort. This allows processes to be designed and automated more efficiently – whether in terms of product range and pricing, the supply chain, marketing, security or energy and building management.

Shannon Wu-Lebron from Blue Yonder sums up the many opportunities that AI offers companies very well. She points out that the use of AI makes retailers

Who isn't into well-informed and smart decisions? That's exactly why AI & Machine Learning as well as Smart Energy Management are hot topics at EuroCIS. A must-see live experience! 27-29.02.2024 in Düsseldorf.

„more agile in dealing with constantly changing market conditions;
more efficient through automation of tasks in demand planning, category management, forecasting and replenishment, and supply chain execution;
more intelligent by giving them the ability to incorporate more data points, signals and scenarios while making decisions;
more collaborative, among different teams and with their suppliers.“

How will AI shape the future of retail? This is what EuroCIS exhibitors expect:

Machine learning and automation will have a lasting impact on retail over the next few years. They serve two important goals in brick-and-mortar retail: increasing efficiency and improving the customer journey.

The future of retail blends physical and digital experiences, requiring data insights and scalable personalization. [...] AI, merging generative algorithms with first-party insights, will revolutionize in-store experiences, reshaping retail.

Since the global pandemic, we've entered a period of perpetual disruption. AI-enabled intelligent predictions give retailers the ability to predict, analyse and react to these disruptions effectively and proactively.

Many retailers still rely heavily on gut instinct. This is still important, but not always correct. We need clear, data-driven facts and solutions that can independently make and support intelligent predictions.

Solutions and expert advice for you at EuroCIS

A woman and a man talk to each other while standing between different point-of-sale screens at a trade fair stand; Copyright: Messe Düsseldorf / A. Wiese

Overall, the retail sector is facing an exciting future with rapid technological leaps in many areas. Digitalization and technology make it possible to create inspiring consumer experiences. At the same time, however, consumer demands for faster, more flexible and yet secure services are also increasing. Neither customers nor retailers will be able to avoid constant further development.

Events such as EuroCIS, where the latest retail technology solutions are presented and tested, where use cases and hot topics are discussed, help retailers to meet these challenges.

Stay tuned for developments: From February 27 to 29, 2024, the retail industry will meet in Düsseldorf for EuroCIS – the Leading Trade Fair for Retail Technology.