Retailers today face a stark reality — many businesses are at risk unless they transform their practices. By mid-2024, chains reported closing almost 3,200 brick-and-mortar stores, which, according to CoreSight, represented a 24% increase in closures compared to last year.
What’s changed? Consumers are becoming increasingly tech-savvy and their expectations for seamless, personalized experiences are rising, putting retailers under pressure to elevate their offerings. To meet expectations, retailers must ensure employee collaboration, optimize inventory management, enhance the overall customer experience and enable brick-and-mortar stores to match the speed and convenience of online shopping.
Many leading retailers are finding mobile technology a game-changer for the industry. Leveraging the latest in mobile, tablet and wearable products can help retailers survive and even thrive in today’s dynamic environment.
How tech improves retail
Mobile, tablet and wearable devices offer robust solutions to retailers’ challenges. Here are examples of how retailers can streamline operations and drive performance with powerful devices like Samsung’s mobile tech for retail.
Facilitating employee collaboration
Effective communication and collaboration between retail staff are crucial for smooth operations. With the right technology, store associates can address customer needs whenever and wherever they arise. Employees have the flexibility to foster a cohesive work environment with Galaxy devices. Some devices even turn into scanners or walkie-talkies. Galaxy S24 Series ensures that employees can stay in constant contact, share information quickly, and coordinate tasks efficiently — without compromising security. The rugged design of Galaxy Tab Active5 and Galaxy XCover6 Pro makes them perfect for the demanding retail environment, providing durability and reliability that can hold up against potential drops or spills.
Optimizing inventory management
Retail success today relies on omnichannel marketing and sales, which, in turn, requires inventory accuracy and visibility. Rugged tablets like Galaxy Tab Active5 and Galaxy XCover6 Pro are redefining retail technology. They surpass traditional barcode scanners’ reliability, durability, processing power, security, and camera quality. Plus, they come with extended warranties, long battery life, and a range of accessories.
These smart devices can be equipped with software-based data capture tools, enabling retailers to achieve everything a barcode scanner can do and more. Galaxy tablets can integrate seamlessly with inventory management systems, ensuring accurate stock levels and reducing instances of overstock or stockouts, which can ultimately help improve customer service and profitability.
Improving customer experiences
Customers today expect personalized, efficient and seamless shopping experiences. Store associates need the right technology at their fingertips to meet those standards, and, with superior technology, they can exceed customers’ expectations. When store associates have access to the entire Galaxy ecosystem, they can give customers tailored, relevant information and services anywhere, anytime, improving the customer experience. In fact, over 90% of older consumers report that well-informed retail employees significantly enhance their shopping experience.
Galaxy S24 Series, with its cutting-edge processing power and high-resolution displays, allows store associates to instantly access product information, inventory levels, and customer data, such as personal preferences, to provide customers with an exceptional in-store experience. Additionally, wearables like Galaxy Buds3 and Galaxy Watch7 enable hands-free communication and work seamlessly across Galaxy PCs and tablets, freeing staff to move around and assist customers promptly without needing to hold a device.
Providing customers with speed and convenience
Customers want what they want when they want it, but waiting in line is one of the downfalls of shopping at brick-and-mortar stores. During busy periods, Galaxy devices can help retailers serve customers faster by acting as versatile mobile point-of-sale (mPOS) platforms. They allow customers to check out by themselves or store associates to move seamlessly from helping the customer to finalizing the sale. With the right mobile sales tools, retailers can drive sales growth.
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Galaxy S24 Series and Galaxy Tab Active5 are equipped with Samsung Knox, ensuring safe and secure transactions. The devices’ high processing power and intuitive interfaces make it easy for staff to handle sales efficiently, in-store or on the go. Additionally, some Samsung devices offer built-in near-field computing (NFC) capabilities to support contactless payments, helping speed up customer service and increase satisfaction.
Retail technology in 2024 and beyond
Mobile retail technology isn’t new, but its importance is increasing because consumers prefer stores that offer these solutions. Over 70% of Gen Z and millennials report being willing to shop or spend more with retailers that provide contactless checkout. The mobile retail solutions shared above only mark the beginning of the retail industry’s transformation.
As consumers and retailers increasingly rely on technology, innovation will ramp up. Innovative retailers are finding use cases for emerging trends such as augmented reality (AR) and artificial intelligence (AI). AI is already more popular than many may guess, with 40% of retailers reporting using AI to enhance in-person experiences.
Retailers that have adopted these technologies are reporting impressive results. In 2023 and 2024, Statista found that retail companies using AI or machine learning (ML) saw two-digit sales growth and an 8% annual profit growth. The same researchers anticipate that the number of retailers using AI or ML will reach 80% by 2025.
Samsung’s leading mobile tech for retail
To compete in the fast-paced retail environment, retailers must act quickly to enhance collaboration, optimize inventory management, improve customer experiences, and meet customers’ demands for speed, convenience, and seamless operations. Mobile tech for retail can address these challenges while driving innovation and performance.
By investing in Samsung’s comprehensive retail technology, retailers can do more than address their current challenges; they can open new opportunities to continue delivering value to their customers.
Explore how Samsung’s mobile and tablet devices can transform your retail operations and drive success.
