The Future of Retail: How Big Retailers are Making Stores More Shoppable

The retail landscape is undergoing a significant transformation. With the rise of e-commerce, traditional brick-and-mortar stores are facing unprecedented challenges. However, big retailers are not giving up. They are leveraging technology, merchandising innovations, and artificial intelligence to improve the in-store experience for customers while minimizing labor costs.

Enhancing the shopping experience

According to Keith Daniels, managing partner at Carl Marks Advisors, the days of standing in long lines are over. Retailers are tweaking their checkout offerings by limiting the number of items and possibly using smart carts or phone-based scanning to make self-checkout more convenient.

In addition, retailers are investing heavily in making stores more shoppable and enhancing the overall experience. For example, Food Lion’s walk-in refrigerated produce rooms and Target’s “store within a store” departments are setting a new standard for in-store experience.

Food Lion’s walk-in refrigerated produce rooms

Walmart has also significantly enhanced its produce offerings, which has helped drive increased sales. The company’s focus on improving the quality of fresh foods has paid off, with John Furner, president and CEO of Walmart U.S., citing improvements in both produce and meat offerings.

Mobile apps are also providing tools for retailers to improve the in-store shopping experience. Consumers can download mobile coupons while shopping and receive more personalized offers. Retailers such as Walmart are beginning to leverage AI to optimize this experience for consumers in the store by reminding customers of things that may need to be replenished or suggesting alternative product solutions.

Personalized shopping experience

Furthermore, technology such as mobile apps and in-store kiosks are making wayfinding within the store easier for shoppers. Walmart’s recent announcement that it will switch to electronic shelf labels through its stores signals the retailer’s commitment to both the in-store experience and labor efficiency.

In addition to these innovations, some retailers are finding success with smaller stores that seek to make shopping more efficient. According to a new report from retail traffic analytics firm Placer.ai, retailers including Sprouts Farmers Markets, BJ’s Wholesale Club, and Macy’s have all seen increases in foot traffic at their newer, small-format locations.

Efficient shopping experience

The added bonus of operating small formats, according to Daniels, are the reduced overhead costs, including rent, especially at stores where online sales may be significant and the need for a large store is reduced.

In other news, the Biden administration has announced $504 million in funding for 12 out of 31 Regional Technology and Innovation Hubs to begin implementing programs to advance science and technology projects. These Tech Hubs will give regions across the nation the resources and opportunities necessary to lead in the economy of tomorrow while creating good-paying jobs for American workers.

Advancing science and technology projects

The program received nearly 400 applications aimed toward creating jobs and driving innovation in areas of technology that will advance American competitiveness. Regions consist of partnerships between governments and private organizations, focusing on industries like clean energy advancement and semiconductor manufacturing.

As the retail landscape continues to evolve, one thing is clear: big retailers are committed to making stores more shoppable and enhancing the overall experience for customers. With the help of technology, merchandising innovations, and artificial intelligence, the future of retail looks bright.

The future of retail