At the start of the pandemic, there was panic buying, retail store closures, and a surge in online demand. However, nationwide lockdowns and a halt to vehicle movement combined resulted in the disruption of the supply chain across all industries. It was interrupted at every point, from component suppliers to manufacturing locations to the last mile to the client. Making use of mobile technology in the supply chain is a necessity for merchants, especially now when consumers want fast and trackable deliveries. Consumers were also compelled to change their purchasing habits from traditional in-person payments to online-based alternatives as a result of the pandemic.
COVID-19 has unintentionally proven the significance of utilizing the correct technology to manage vital supply chains and customer service for numerous companies. With an increase in online purchasing and a desire for speedier delivery, businesses must do inventory checks, automate orders for high-demand products, and track orders in real-time. While providing excellent customer service, the proper mobility and IoT management solutions may help them stay compliant, streamline operations, and prevent business downtime.
Convenience has now become an essential expectation for consumers such as curbside pickup, secure contactless payments, and a smooth purchase experience across mobile, web, and e-commerce channels. Merchants who can offer alternative payment solutions such as online and contactless payments will make it a lot easier for new and prospective consumers to interact with their brand, while those who do not adapt will likely lose clients to more modern competitors.
At this juncture, various retail tech companies are entering the market to cater to the different needs of enterprises. To help them choose the solution that best fits their requirement, Retail Tech Insights has compiled a list of the most promising retail tech companies. Besides, the magazine also comprises insights from thought leaders on industry trends, best practices, recent innovations, and their advice for aspiring CIOs.
We present to you Retail Tech Insights ‘Top 10 Retail Tech Companies - 2021.’