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Global Smart Retail Market
Global Smart Retail Market
The GMI Research believes that the Smart Retail Market will propel over the forecast period. This is because of their assistance to improve the shopping experience of customers and offer a safe shopping experience.
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Smart Retail Market Dynamics
Smart Retail includes a bundle of different technologies, offering a secure, intelligent and faster shopping experience. The accelerating penetration of smartphones and the unrestricted accessibility of mobile retail applications are the prominent forces supplementing the growth of the global smart retail market. For example, Verifone Holding Inc, in March 2018, introduced Carbon Mobile 5, which assists payment, commerce, and mobility under one compact device. Moreover, companies are increasingly investing in intelligent retail market solutions and have introduced inventive technologies such as AR, IoT, VR, and Beacons, For instance, Beacon refers to the device operating on Bluetooth, an energy efficient Bluetooth connection, which offer notifications related to the discounts and offers to the customers every time they are in a Bluetooth coverage area. Also, the beacon proffers indoor seamanship of the store and accumulated information about behaviour of consumers. The technology is complementing the smart retail market because they offer a quick and smarter shopping mode. However, the possibility of data safety and inadequate protection of retailers and customers will restrain the Smart Retail market size.
Application Segment Drivers
The market for smart payment systems is projected to contribute a prominent share in the market over the coming years. As per the Smart Retail market report, this is due to the aggravating acquisition of these systems by retailers to provide a smooth and expedient delivery to their consumers. For instance, IFuree Go self-service offers shoppers to enact payments after face scan.
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