With all of the e-wallet driven discussions of e-commerce and social commerce, it’s easy to forget how brick and mortar stores will also evolve based on technology. This informative video by Australia-based Prendi Labs illustrates the “Store of the Future,” equipped with near field communications (NFC), remote POS systems, and augmented reality displays. Prendi Labs infers that retailers must create immersive shopping experiences that incorporate multiple online channels to create a unique in-store experience. Information must also be abundant and fast in the store of the future. This experience is what will motivate customers to choose brick-and-mortar over e-commerce.
Prendi Labs missed two things that weren’t on any radar at the time and one of those things was beacon technology. Beacon technology is used to send promotions and ads to consumers as they approach a section of the store. Prendi Labs suggests technology to survey the audience and change store ads in real time to fit the store demographic, but beacons create the opportunity for individualized ads based on phone user and store location data.
While Prendi Labs accurately predicted the use of NFC in retailers, it inaccurately predicted its use. NFC is now used as an alternative to cash and credit card use to purchase items in stores. Google Wallet and Apple Pay are at the forefront of NFC payment development and have already implemented this functionality across the U.S.
The only disappointing thing about Prendi Labs store of the future is the discontinuation of sales associates.
Enjoy the video! What does the store of the future look like to you?