HP Innovation Journal Issue 13: Winter 2019 | Page 33

What’s In Store for Retail Tech AARON WEISS VP and GM, Retail Solutions Business Unit, HP BRAD TRACY Global Retail Segment Manager, HP The worlds of retail and hospital- ity are getting more competitive, with global brands entering more markets and online competitors fiercely vying for customer atten- tion. Businesses that can anticipate the fast-paced changes by under- standing customers through their shopping and purchase behaviors and deploying technology to improve the in-store experience have a much better chance of gaining and retain- ing customers. Consumers are channel-agnostic, combining “bricks and clicks” and engaging with brands, products, and services according to personal pref- erences. Some want to interact with a product in store before purchasing. Others want to purchase online and pickup in person—increasing demand for space allocated for curbside pick- ups. Still more customers choose online purchases and want choices for delivery. Predicting the future of the retail and hospitality industries is diffi- cult and inexact, but there are ways to future-proof it with smart technology. It could mean extensive mobility and expanded self-service to empower customers and speed up transactions; virtual reality to inspire imagina- tions and entertain customers; or even augmented reality to enhance product customization. Shoppers are 85% more likely to frequent stores that feature real-time, personalized offers and are 75% more likely to shop in places that deploy self-serve kiosks and interactive screens. 1 The best-positioned retailers will lever- age the latest technology to provide service when and where a customer wants it, and exactly how they want it. Whatever your vision of the future, it is critical that retail technology not only deliver a return on investment, but also be designed to adapt to constant changes in the business landscape and keep delivering in the long term. Unlike other products, which need to be updated continuously, the HP family of long lifecycle point-of-sale (POS) solutions minimize disruption once implemented, with devices intended to carry retailers years into the future. While some busi- nesses are implementing mobile technology, others know they want these capabilities but haven’t quite decided what it will look like. A con- vertible retail system like the HP Engage Go—which can remain fixed or be undocked by an associate for mobile use—offers businesses the functionality of a fixed POS system with the flexibility of a mobile device. It ensures that retailers are agile and adaptable, with the technology to execute new plans. The HP Retail Solutions portfolio—including the Engage One, the Engage Go, and the Engage Flex—is designed with the flexibility to meet current and future business needs and remain compet- itive for years after implementation. These HP devices use the 8th genera- tion Intel ® chipset, which is optimized for Windows 10, and modern pro- cessors that meet current needs and are robust enough to match future processing demands to better serve consumers as business needs evolve and system demands grow. New, adaptable technology—like the HP Engage Go—also allows the associate to meet customer needs wherever they are in the store, providing a more convenient and engaging experience. Sensors, cameras, and other devices integrated into retail and hospitality environments can be employed to gather data on customer preferences and shopping behavior, track inven- tory availability, observe traffic flows, or present helpful information based on shopper demographics. The vast amount of data can be overwhelming, but it’s key for businesses to make sense of it by turning that data into actionable insights. The HP Engage Flex line, which offers high-powered, incredibly reliable edge computing capabilities, helps corporate and frontline employees analyze inventory data, determine the optimal number of employees, and figure out how to appeal to a target demographic for retail sales or which offerings to prior- itize for hospitality customers. We can’t guarantee what the future will look like, but we can foresee the ever-present need for greater comput- ing power and increased automation. HP is committed to delivering the technologies that enable business to keep up with consumer demand, delivering a roadmap that positions retailers for success in the future. 1. HSO, “The store of the future—creating the ultimate shopping experience” infographic, 2018. 31