HighStreet Collective Retail Innovation Report Series: Key Takeaways
HighStreet Collective recently launched its first quarterly report that measures the top 12 technologies used in brick and mortar retail.
But, according to the press release announcing the launch of HighStreet’s quarterly report series, “this is not your run-of-the-mill, tech-speak-for-fellow-techies report.”
“In-store tech should no longer be measured solely on up-time and functionality. It should be measured on shopper adoption of the technologies,” says Ed King, co-founder and shopper behavior expert at HighStreet. “What good is technology if shoppers don’t use it, or if it doesn’t help move the needle?”
The 19-page report “was designed to help guide retailers and brands in the right direction by showing living retail examples (good and bad), by identifying insights regarding evolving shopper behaviors and by rating shoppers’ technology expectations inside the store using an easy-to-understand 1-10 scale,” according to the HighStreet Collective announcement.
Learning from HighStreet Collective Retail Innovation Report
Fellow contributor and HighStreet Collective co-founder Laura Davis-Taylor, who co-wrote Lighting Up the Aisle—widely recognized as the ‘industry Bible’ on the use of in-store technology a decade ago—thinks the time is right to raise the bar when it comes to retail.
“Retail has lagged behind the technology curve for years, and it’s no wonder legacy retailers are losing ground to Amazon,” says Laura Davis-Taylor in the HighStreet Collective announcement.
“Retail has lagged behind the technology curve for years, and it’s no wonder legacy retailers are losing ground to Amazon and other online-native retailers who are now opening brick and mortars,” said Davis-Taylor in the HighStreet Collective announcement.
“Today’s shopper has evolved, and they bring with them heightened expectations when they shop; they expect the in-store experience to be authentic, friction-free, and story-driven. These are all things that in-store technologies can help,” she said.
HighStreet Collective global strategist Sanjay Gidwani, the third contributor to the report, was the founder and CEO of a retail chain in Australia, and has worked for global powerhouses Harrod’s of London and Prada.
“As a fellow retailer, I understand there’s an allure to use ‘cool tech’ to modernize the store. But using tech for tech’s sake is the biggest mistake retailers are making today,” says Gidwani. “This report can really help directors, VPs and the C-suite in all sectors of retail become smart at in-store tech without learning the tech-speak that usually goes with it. We created it for retail minds, not the pocket protector group, and the 1-10 scale is easy to get your head around.”
Click here to download the free report and sign up for future HighStreet Collective reports.
The post HighStreet Collective Retail Innovation Report Series: Key Takeaways appeared first on Commercial Integrator.