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Interview
Moreover, AI can be used to identify unusual customer behaviors, enabling retailers to record and analyze these patterns.
“ All in all, there is a wealth of intelligent technological advancements occurring in the retail sector. In the past, we have seen separate deployments of CCTV, Bluetooth beacons, and LIDAR technologies, which can be expensive for retailers to roll out. Conversely, we are now witnessing a shift towards using the network as a strategic asset, a foundational layer that can support various value-added services at a substantially lower cost. This approach allows retailers to test new technologies and assess their effectiveness and return on investment( ROI) before implementing them, thereby avoiding the complications of managing multiple separate deployments.
“ Retail is a relatively low margin yet highly competitive industry, making keeping costs down and staying competitive essential. As a result, deploying these technologies is no longer optional for those who do not want to risk being left behind. In my 25 years of experience in retail, I have spoken to many retailers who were hesitant to invest in technology and move forward, which contributed to their eventual failure. In contrast, major retailers in the UK who maintain a significant research, development, and technology investment program, safeguard their competitive edge,” Ian expands.
Competitive edge
As he looks to the future, Ian leverages his expertise and knowledge of the industry to anticipate the next developments in the retail sector.“ I believe we are seeing a significant catch-up phase. Major retailers have been aware of the technologies I mentioned earlier for a while and have plans in place to implement them. Meanwhile, midmarket and smaller brands are still exploring the best approaches to deploy the same
technologies, starting with smart networks as the foundational layer with further additions like sensors, CCTV, or LIDAR. This transition is ongoing, as everyone is looking for a competitive edge in an increasingly cloud-based world and rapidly changing retail industry. As an example of this change, five years ago, food deliveries were always handled by the food retailer themselves. Nowadays, it is just as equally done by thirdparty services like Just Eat and Deliveroo, transforming the food retail landscape from warehouse-driven distribution to storebased distribution. This shift means that stores now serve as both retail spaces and warehouse distribution centers.
“ Consequently, we are witnessing thirdparty access to retailers’ IT systems and infrastructure, enabling them to maximize sales. Another notable shift is how retailers are embracing technology and cloud opportunities to adapt to changing consumer behavior. For example, today, many people order online regularly, while certain items, like furniture or clothing, are increasingly being purchased in-store, as consumers prefer to see them physically, though they might still order the item online afterwards,” he concludes. ■
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