Innovative Technology in the Retail Industry Its Scope and Challenges | Green Lifestyle and International Market
Innovative Technology in the Retail Industry Its Scope and Challenges | Green Lifestyle and International Market Background: The retail industry is undergoing a technological revolution, transforming operations and consumer experiences. E-commerce utilizes augmented and virtual reality, while in-store innovations like beacons and smart shelves enhance inventory management. Contactless payments, mobile wallets, and AI-driven analytics personalize interactions. Blockchain improves supply chain transparency, AI enhances demand forecasting, and robotics and voice commerce elevate in-store and customer engagement. These technologies are now essential in meeting the evolving demands of consumers. Purpose: The study seeks to unravel the multifaceted implications of technological advancements on the retail sector and how innovative technologies act as catalysts for transformation, efficiency, and sustainability in the retail landscape. Methods: Through an exhaustive exploration of existing