executive summary
Though still in the early stages of adoption, 5G technology has the potential to bring positive change to the retail industry as retailers look to sustain their digital transformation efforts and safely return consumers to stores in 2021.
Retail applications include Affected With 5G?
Retailers will leverage IT investments in 5G to improve customer experiences both in-store and online. On the customer side, augmented reality (AR) and virtual reality (VR) applications and payment systems will benefit. Additionally, investments in store data and analytics and Internet of Things (IoT) systems, including computer vision systems, will enhance store operations such as inventory management and fulfillment.
How can 5G enhance or transform the retail experience?
Retailers are constantly talking about improving customer experience through personalization, and 5G services can help provide in-store inventory information and in-store location services to customers faster via AR applications, while employees can get immersive on-site training to keep them up to date on everything from display placement to management training.
How should retailers prepare for 5G?
Retail executives understand that while 5G services are still in the early stages of adoption, they need to prepare for the future. That means not only investing in 5G-enabled devices and services, but also in developing applications that support AR experiences and store and process data. Plus, partnering with other players in the 5G ecosystem will help them bring their innovations to market.
What is in this report? The report explores five key areas of the in-store retail experience that can be enhanced or transformed by 5G technology.
