In the last couple of years, almost all the sectors have come across one constant ruling their business patterns, namely transmogrification. And the latest vertical standing at the cusp of this is the retail and catering sector. The technological influx has enabled brands to customize products for their customers and prosper. Popular brands are giving the shopper full power to personalize their products according to their taste, choice, and preference that fits their budget as well as meet their expectations. This results in higher customer retention, profitability, and increased sales margin.
Furthermore, retailers have resorted to augmented reality apps that render 3D models of products and helps customers choose the ideal product from the many. This has promoted sales, expanded the customer base, and magnified the customer satisfaction for most of the retailers. Also, this has significantly propelled the increase of the market share of the companies in their niche. Additionally, the alarming popularity of social media has compelled brands to revamp their marketing strategies and interact with potential buyers through innovative approaches. Moreover, to harness the benefits of social media, these brands have appointed a dedicated team who survey, research, and incorporate effective strategies to allure customers.
In fact, retail chains today are exploring beyond their spectrum to include advanced technologies like robots into their businesses. For instance, large enterprises are making mammoth investments in AI-based robots that help them pack and ship their items. Likewise, retailers are using chatbots to communicate with their customers and are helping them solve their problems.
Apart from retail, the catering arena is also gearing up for the massive revolution. Expected to grow from 4.6 billion dollars to a whopping 85 billion dollar by the end of 2035, the catering companies are gearing up to meet their customer’s requirements. From gluten-free foods taking the culinary limelight to increasing demands for flavorful cocktails, the restaurants, and food joints worldwide are aligning its productions according to shifting customer demands. Answering to the modern call for plant-based meat products like tofu and tempeh, caterers are refurbishing their production methodologies to create more nutritionally-potent products.
With these remarkable developments happening with the blink of an eye, choosing the appropriate solution provider to escalate the chances of success can be a task. In the latest edition of Retail Tech Outlook, we present to you “Top 10 Catering and Retail Technology Solution Providers 2020” whose expert services will be favorable for your business needs.