EuroCIS has been the leading trade fair for retail technology in Europe for years, showcasing the latest innovations and technology in the retail sector. Held in Dusseldorf, Germany, this year’s event featured 13,500 trade visitors from 95 countries and 475 exhibitors from 41 countries. The focus of this year’s event was on AI applications and increasing efficiency.
As this was Invafresh’s first time at the tradeshow, we had a lot to take in. Here are three key takeaways from the event.
Personalizing the Shopping Experience with Retail Media
The latest advances in AI and machine learning are making shopping experiences even more personal. This personalization extends seamlessly into physical stores through wearable tech like smart glasses and phones, enabling real-time recommendations and offers based on customers’ movements and preferences. Additionally, this technology is allowing shoppers to visualize products before purchase, reducing returns.
Operational Efficiency through Digitalization
With costs increasing and customers watching prices closely, retailers are iare struggling to protect profit margins without hiking prices. Digitalization offers a way to optimize operations without compromising on price or quality. From automated inventory systems to streamlined click & collect services, digital tools are helping retailers navigate the margin squeeze. This shift towards digital is not just a cost-saving measure, it’s also a strategic move to meet the modern consumer’s expectations for efficiency and convenience.
New Tech for Preventing Loss
Walking the floor at the show, it was hard to miss the diverse range of anti-theft technologies. From smart tagging to sophisticated surveillance systems and robots that monitor suspicious behaviour, the variety of innovation speaks volume about the retail industry’s unwavering commitment to combatting shrink. This emphasis on security is not just about safeguarding merchandise; it’s a clear acknowledgement of delicate balance retailers face in maintaining competitive process while also protecting their bottom line.
EuroCIS 2024 gave us a look at where grocery retail is headed. A major focus moving forward will be on giving customers and employees a better, smarter way to shop and work. With so many new technologies out there, the big task for grocery retailers now is to figure out what technology works for their needs and where to invest. The question for grocery retail CIOs and technology leaders is not if they should adapt to these trends, but how quickly and effectively can they do so?
