5G makes online and offline retail interesting again

5G can bring technology and innovation into the equation, helping retailers make data-driven decisions, view the end-to-end supply chain, and collaborate with customers to curate and build memorable experiences.

All things considered, would you rather buy something in a physical retail store or online? If you're like one of the respondents to a recent Raydiant survey, you probably do a lot of online shopping but prefer the in-store experience.

According to their “State of the In-Store Experience” survey, 48% of consumers want to shop in-store.

In the heyday of e-commerce, simply being online was enough to make a brand stand out.

Today, brands that want to connect with their customers need to offer the best of both worlds — the convenience and immediacy of online with the personalized, in-person touch. Thanks to 5G, we’re looking at a new era of retail.

Consumer-facing capabilities begin to shine

We’ve already noticed some great examples of stores offering high-tech experiences to in-store consumers, but 5G can take this to the next level.

Augmented Reality (AR) as Standard Practice

Shopify recently announced that 71% of consumers would shop in-store more often if they could participate in an immersive AR experience. Consumers often participate in AR pop-up experiences or special events, but 5G provides the foundation for ongoing experiences in regular store locations.

5G provides a supercharged network that can seamlessly transmit higher data volumes faster, which is an essential component to delivering AR to consumers every day. Consumers can visualize products in the real world online and then experience them in exciting new ways in-store. For example, a customer trying on a shirt might change the lighting, scenery, or colors to imagine how the shirt will look outside the dressing room. Once they’ve selected a shirt they like, AR can recommend accessories or other apparel to complete the look without leaving the dressing room.

From there, customers can send data to their mobile devices to track purchases and wish lists for later purchases. When the time comes, they can find exactly the piece they need online, creating a seamless experience from start to finish.

Smart labels provide dynamic information to consumers

Nothing is more frustrating than not having the correct information on a desired product. Consumers check inventory online only to find incorrect quantities in-store. They wonder what the difference is between two products but can’t figure it out. Mislabeled or unlabeled pricing information can cause trouble when something appears to be on sale but isn’t.

RFID tags provide consumers with dynamic information about each desired product. Smart shelves can help retailers keep up with inventory more accurately, and consumers can find everything they need to know about a product from start to finish with a simple mobile device.

Even more interesting is that these smart tags can provide personalized information to each shopper through 5G data transmission. Customers can connect to the network and learn more about each product, including where it comes from and how it is made. More people than ever want to buy things that match their values ​​and may be more willing to pay a premium. Smart tags make this personalized shopping possible.

Behind the scenes – fewer distractions

Consumers will find stores reimagined as curated experiences, but that’s not all that’s happening. These experiences require heavy work behind the scenes to make sure everything flows seamlessly on the floor. 5G makes this magic a little easier.

Supply Chain Optimization

AR doesn’t help the customer experience if their favorite product isn’t even on the shelf. Retail brands are now global, with supply chain partners spread across the globe. When one piece of the puzzle doesn’t align, the whole picture is lost.

5G enables supply chain partners to analyze and share data in near real time, allowing for better product forecasts. Retail stores can better analyze demand based on current trends rather than historical forecasts and pivot quickly to address disruptions.

These smart RFID tags can reduce manual record keeping and alert manufacturers to potential incidents more quickly. Cloud-based backend systems become easier to manage as 5G ensures the rapid transfer of massive amounts of data. Brands gain 24/7 visibility into their entire supply chain.

Frictionless, optimized store setup

Stores can also use 5G data transmission to create networks that enable frictionless experiences. Checkout is a particular challenge for many stores. Too many cashiers and machines sit idle. Too few, and stores end up with excited customers at the end of their experience.

Contactless payments may be on the rise. Amazon has piloted a store where customers can simply pick up what they need and walk out – mimicking their revolutionary “one-click” online shopping. In fact, most consumers would like to see some form of contactless payment in their favorite stores.

Stores can also apply the same traffic flow principles they use for online shopping to physical stores. Stores can track customer patterns (anonymously) through the store, analyze inventory levels, and optimize product placement to create truly consumer-friendly shopping locations.

What are we building? A bridge from online retail to offline

5G will begin to close the gap between online and in-store experiences. Consumers are already used to shopping in both worlds, but the new networks allow stores to curate these experiences for customers. Additionally, due to constant connectivity, 5G will bring analytics into the physical world in ways never before possible.

As retailers look for ways to differentiate themselves in the global economy, 5G can bring technology and innovation to the forefront. They will make data-driven decisions, see the supply chain end-to-end, and collaborate with customers to curate and build memorable experiences.

We will soon be entering a new era of retail thanks to low latency and enhanced connectivity.