Last updated on Feb 25, 2024

What are the best ways to keep up with the latest retail technology?

Technology is constantly evolving and impacting the retail industry. Whether it's online shopping, mobile payments, artificial intelligence, or augmented reality, retailers need to keep up with the latest trends and innovations to stay competitive and relevant. But how can you do that without spending too much time, money, or resources? Here are some of the best ways to keep up with the latest retail technology.

Key takeaways from this article

Attend industry events:

By going to conferences and trade shows, you immerse yourself in the latest retail tech. You'll see live demos, learn from expert talks, and network with peers—all of which can spark innovation for your business.
Partner with vendors:

Forge strong relationships with your suppliers. They're experts in their products and can guide you through new tech developments. Plus, this collaborative approach often leads to tailored advice that benefits your specific needs.

This summary is powered by AI and these experts

1 Follow industry news and blogs

One of the easiest and most cost-effective ways to keep up with the latest retail technology is to follow industry news and blogs. You can subscribe to newsletters, podcasts, magazines, or websites that cover topics such as e-commerce, omnichannel, customer experience, or digital marketing. You can also follow influencers, experts, or thought leaders on social media platforms like LinkedIn, Twitter, or Instagram. By following industry news and blogs, you can learn about the latest trends, best practices, case studies, and insights from other retailers.

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Vineet Khurana
In my opinion, attending Retail conferences and trade shows, like annual NRF Big Show, Shoptalk, and RetailX would prove helpful in keeping up with latest Retail technology. Leading companies showcase their latest innovations and solutions in such events. These events also offer opportunities to network with industry experts, attend educational sessions, and see demos of cutting-edge technologies.
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Andrew Parle

Helping retailers save money, be more efficient and deliver amazing solutions to everyday problems
Totally agree that first step on keeping track of change, emerging trends and new ideas is having small and regular updates. I like the retail gazette and retail week for good all round info. But why not cast your net a little wider. Subscribe to existing software and hardware providers newsletters. It’s an easy way to keep an eye on improvements and can often be quick wins with easier implementation. Also think about industries/in-ovation outside of retail that have similar challenges (people, efficiency, automation) for example healthcare, manufacturing, logistics and look for those leading the innovation conversation and subscribe. Scanning articles takes a couple of minutes of your day but can hugely benefit you!
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2 Attend webinars and events

Another way to keep up with the latest retail technology is to attend webinars and events. Webinars are online seminars that usually feature presentations, demonstrations, or discussions on a specific topic or product. Events are physical or virtual gatherings that bring together retailers, vendors, customers, or analysts to network, learn, or showcase solutions. You can find webinars and events on platforms like Eventbrite, Meetup, or Zoom, or on websites of industry associations, vendors, or media outlets. By attending webinars and events, you can interact with other professionals, discover new tools or strategies, and get feedback or advice.

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Andrew Parle

Helping retailers save money, be more efficient and deliver amazing solutions to everyday problems
I’m a bit wary of webinars, as some businesses churn out far too much content and you can lose an hours and not learn much at all. Events I totally champion, as not only do you get a chance to see first hand new tech, latest trends but much more importantly you can ask questions, try and start to explorer what an implementation to you might look like. But at an event an even better opportunity is to network. Whilst seeing one it innovation is a win. It’s even better meeting a trusted partner who can guide you through the event, point you to the best stalls and provide extra insight. My advice go to events, have an agenda but see as many stalls as possible even those you can’t immediately see the value!
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3 Join online communities and forums

A third way to keep up with the latest retail technology is to join online communities and forums. Online communities and forums are platforms where you can ask questions, share opinions, or seek help from other retailers or experts. You can join online communities and forums on websites like Reddit, Quora, or Stack Exchange, or on social media groups like Facebook, LinkedIn, or Slack. By joining online communities and forums, you can tap into the collective wisdom and experience of other retailers, learn from their successes and failures, and find solutions to your challenges.

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4 Experiment with new tools and platforms

A fourth way to keep up with the latest retail technology is to experiment with new tools and platforms. New tools and platforms are software or applications that can help you improve your retail operations, such as inventory management, pricing, merchandising, or customer service. You can find new tools and platforms on websites like Product Hunt, Capterra, or G2, or on app stores like Google Play or Apple Store. By experimenting with new tools and platforms, you can test their features, benefits, and compatibility with your existing systems, and decide whether to adopt them or not.

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5 Train yourself and your staff

A fifth way to keep up with the latest retail technology is to train yourself and your staff. Training yourself and your staff is essential to ensure that you have the skills, knowledge, and confidence to use the new technology effectively and efficiently. You can train yourself and your staff by taking online courses, watching videos, reading manuals, or hiring consultants. You can find online courses on websites like Udemy, Coursera, or Skillshare, or on vendors' websites. By training yourself and your staff, you can increase your productivity, performance, and customer satisfaction.

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6 Monitor your competitors and customers

A sixth way to keep up with the latest retail technology is to monitor your competitors and customers. Monitoring your competitors and customers is important to understand what they are doing, what they are using, and what they are expecting. You can monitor your competitors and customers by using tools like Google Alerts, Social Mention, or SimilarWeb, or by conducting surveys, interviews, or mystery shopping. By monitoring your competitors and customers, you can identify gaps, opportunities, and threats, and adjust your strategy accordingly.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Andrew Parle

Helping retailers save money, be more efficient and deliver amazing solutions to everyday problems
Trusted partners are vital! Work with your businesses you already have and ask them to share knowledge and guide you on new technology. They are often the experts in their field. If they are worth anything they will willingly and always recommend what’s best for you! Test quickly and fail fast! Be open to new ideas and moving quickly to test it. Don’t get bogged down in lots of detail ie lots of KPI’s, huge project teams. Instead get it live quickly, acknowledge where it’s not a pure test. But equally listen and change it/end it quickly if it’s not delivering results fast. Too often i have seen the project phase sap to much money and time when its should be focused on speed and benefits.
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What are the best ways to keep up with the latest retail technology?

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1 Follow industry news and blogs

2 Attend webinars and events

3 Join online communities and forums

4 Experiment with new tools and platforms

5 Train yourself and your staff

6 Monitor your competitors and customers

7 Here’s what else to consider

Retail Operations

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