5 Game-Changing Technologies Leaders Will Rapidly Adopt

By Accenture Strategy

To succeed over the next decade, retail and consumer goods leaders will need to have a laser focus on which technologies increase the value add for consumers, weighing those benefits against their costs. Doing so will help retailers thrive in the new age of retailing by competing on what matters most — customer engagement and wallet share.

These five technologies will be at full readiness by 2020, some by 2018:

1. INTERNET OF THINGS (IOT)

MANUFACTURE/PLAN & BUY: Automated reordering via sensors; connected clothing
DISTRIBUTE/MOVE: In-transit visibility
SELL: Automated ordering; connected devices

2. ARTIFICIAL INTELLIGENCE/MACHINE LEARNING

MANUFACTURE/PLAN & BUY: Trend and volume forecasting
DISTRIBUTE/MOVE: Predictive staging
SELL: Predictive recommendations; predictive deliveries
AFTER SALES: After-sales service

3. ROBOTICS

MANUFACTURE/PLAN & BUY: Robotic manufacturing
DISTRIBUTE/MOVE: Robotic picking
SELL: Robotic picking; automated sales assistants
AFTER SALES: Automated customer support

4. DIGITAL TRACEABILITY

MANUFACTURE/PLAN & BUY: Product source tracking; inventory replenishment
DISTRIBUTE/MOVE: Product source tracking; inventory replenishment
SELL Merchandise tracking; product authenticity mapping
AFTER SALES: Product usage and warranty

5. AUGMENTED REALITY/VIRTUAL REALITY

MANUFACTURE/PLAN & BUY: Programming; product design
SELL: Virtual retail locations; VR demos
AFTER SALES: AR/VR engagement