Technology Plays Growing Role in Retail
Miller’s Landing in Castle Rock, CO, is creating a technological infrastructure that will provide retail tenants with the robust data interconnectivity capabilities they need to stay competitive in today’s market. As the economy rebounds and opens up, retailers are looking to technology to help them regain in-store customers and provide a safe, modern shopping experience.
Microsoft recently looked into the technology trends that will shape retail in 2021. Their report, 5 IoT retails trends for 2021, listed the top trends that astute retailers will pay attention to this year to grow their market share. Here are some of the trends from the report that pertain to the in-store shopping experience.
Improving Customer Service at H&M
Technology is enabling new ways for in-store employees to communicate with one another and provide better customer service. One exciting development involves using in-store IoT, or Internet of Things, sensors.
The Internet of Things consists of all of the devices that are connected to the Internet in some way. These can range from smart phones, computer networks and remote sensors placed in buildings to more mundane devices such as smart refrigerators, wearable devices and headphones.
Microsoft reports that retailer H&M has started a program to equip workers with special IoT-connected bracelets that send real-time requests when customers need assistance, such as with fitting rooms or during checkout. The bracelets also communicate visual merchandising instructions and updates on promotions.
The system uses an app developed by Turnpike. According to Turnpike founder Carl Norberg, “We realized that by connecting store IoT sensors, POS systems, and AI cameras, store staff can be empowered to interact at the right place at the right time.”
Enabling Real-Time Inventory Updates
Microsoft also expects a growth in the use of real-time “edge data” to optimize inventory management. With edge data, customers can check online to see if a store has a product in stock and even find out which stores have the shortest wait times. The IoT technology also allows for real-time in-store digital signage for even more customer support.
Microsoft reports that Seattle Goodwill is using the technology to provide visibility into the movement of goods from its warehouses onto store shelves.
Livestreaming Enters Retail
Technology solutions are also entering the market that allow for live video shopping. The solutions allow for remote shoppers to interact one-on-one via video streaming with store staff and ask questions about products, get demonstrations, etc.
Microsoft reports that Kjell & Company, a leading consumer electronics retailer in Scandinavia, is currently having success using the technology.
An Exciting New World
It truly is an exciting new world for the in-store retail shopping experience. Yet to truly take advantage of these new developments, retailers need to be located in buildings that offer the technology to handle the demands of the applications.
Miller’s Landing is ready. We’re using our proprietary SmartTown design method to create a truly user-friendly technology infrastructure that rivals the smart city technology found in leading cities around the world. We’re working in partnership with technology design and consulting firm Layer 10 Consulting to design the tech backbone at Miller’s Landing.
SmartTown is a people-centered approach that ensures the design of the technology used at Miller’s Landing meets user needs before we determine what specific technology to deploy. For us, the role of smart city technology is simple – to help people live smarter lives. And that’s what we are doing at Miller’s Landing.
Our technology infrastructure will provide businesses with the smart city connectivity they need to use the latest technology solutions and remain competitive. It will also provide workers, residents and visitors with connectivity that streamlines parking and wayfinding and enhances the experience of living at and visiting Miller’s Landing.
About Miller’s Landing
Miller’s Landing is transforming what was once a blighted section of abandoned property in Castle Rock into a dynamic, sustainable mixed-use development. When completed, Miller’s Landing will offer an exciting, pedestrian-friendly town center that mixes business offices with vibrant retail, entertainment, multifamily living options and outdoor recreation opportunities.
About Castle Rock
Castle Rock is a growing community in the south Denver metro area on the I-25 corridor. It offers easy access to nearby Denver to the north and Colorado Springs to the south.
Castle Rock’s small-town atmosphere, access to big city amenities and abundant recreation opportunities make it a desirable home town for highly educated, well-trained professionals. For more than 20 years, Castle Rock has rated as one of the best places to live and start a business in Colorado.
Land. Linger. Launch
Miller’s Landing combines career and community in a modern, mixed-use development. From exciting multifamily housing options and vibrant retail, entertainment and recreation opportunities to community gatherings and individual adventures, Miller’s Landing is the place to build your future.
Join us. Let’s build the future together.