Technological Innovations Transforming the Consumer Retail Experience: A Review of Literature

Technological advancements are largely responsible for the intensified competiveness within the industry and the shift in consumers shopping and buying behavior. Global trends such as mobile devices and social media have led to a revolutionary change that has driven the drastic decline in traditional ‘brick and mortar’ footfall, leading to the unfortunate failure of long-standing retailers that once dominated our high streets. Despite survival to date, current retail firms remain with high pressure to change strategy to connect with the digital natives of today. The integration of online and physical worlds must focus on promoting the experiential benefits that the in-store environment provides by integrating emergent technologies into the entire retail process. The following paper provides an insight into current technological innovations that are transforming the consumer experience in a myriad of ways. Then, recommendations for practitioners regarding strategic implementation of future Augmented Reality (AR) and Virtual Reality (VR) technologies are presented, followed by an overview of future implications of said technologies