The Top Technology Trends Shaping the Retail Space in 2023:
As the retail industry continues to undergo a digital transformation, AI and AR technology have quickly emerged as crucial components of the modern shopping experience. These technologies are helping to enhance and elevate retail, bringing consumers immersive and personalized experiences across the omnichannel shopping journey.
To read the complete report on the top technology trends of 2023, visit Perfect Corp.’s blog.
Perfect Corp. has revealed the top 6 technology trends that will majorly influence the retail world in 2023, including:
- Sustainable Digital Transformation:
Around the world, businesses are turning to technology solutions to create more sustainable business practices. Digital solutions such as AR and AI are among the top technologies allowing brands and retailers to operate more sustainably.
- The Return of In-Store Retail:
2023 will see an increase in brick-and-mortar shopping as restrictions from the Covid-19 pandemic ease and consumers return to physical in-store experiences. AI + AR technologies can help to elevate in-store shopping experiences, providing experiences that are both immersive and touchless for customers.
- The Rise of AI Skin Technology:
During the Covid-19 pandemic, consumers worldwide prioritised skin care as a key component of their overall wellness routine. This has led to the rise of AI-powered skin technology, which allows brands and retailers to take personalization in skin care to a new level. In 2023, this technology will continue to see widespread adoption.
- The Evolution of Fashion Tech:
Although AI + AR technologies have long been an essential aspect of the retail shopping journey in beauty, in 2023, these technologies will begin to play a larger role in the world of fashion retail. Particularly in the jewellery and fashion accessory spaces, brands and retailers will begin to adopt AR virtual try-on technologies for rings, bracelets, necklaces, earrings and more.
- AI Personalisation:
AI technologies are one of the most impactful and effective tools for personalization. Whether by leveraging AI to provide customers with a customized makeup tutorial or by implementing an AI diagnostic experience to match customers with a tailored skincare product regimen, in 2023, AI technology will play a larger role in the world of retail and beyond.
- The Rise of Web 3.0, Virtual Commerce, and Immersive Digital Experiences:
Web 3.0 now holds massive potential as a new revenue stream for brands, whether through interactive virtual stores, digital avatars and wearable product collections, and much more. To stay competitive in 2023, brands should stay on the pulse of this quickly evolving space and be sure to consider Web 3.0 and virtual commerce when planning digital transformation strategies.
