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What is Digital Twin Technology and How it helps Retail 2023
Digital twins in the retail industry are virtual replica stores that can help retailers reduce costs, improve efficiency, and increase productivity. The term digital twin has entered the vocabulary of retail industry experts and leaders. But what does it mean? We will explore the definition, use cases, examples, softwares and common questions associated with digital…
Eye-Tracking VR Technology is Changing the Retail Industry
Retailers use virtual reality to conduct eye tracking consumer research that uncovers accurate shopper insights. The pandemic and rapid digital transformation in retail is pressuring brands to innovate and adapt their shopping experiences based on changing consumer behaviors. In order to quickly collect and understand consumer insights, many organizations have turned to virtual reality. Virtual…
7 Retail Industry Trends to Watch Out for in 2021
Today, the rapid advancements in technology have led to almost every facet of our lives shifting online, catering to a population that is more adaptive to the current times. The retail industry is no exception. The current world situation has vastly impacted retail industry trends in 2021, with an increasing number of people resorting to…
4 Ways Virtual Reality Is Used in Business
Virtual reality goes beyond video games and shopping. VR is used in retail to assist with innovation, in healthcare for risk-free training, and in construction to provide better project communication. When you hear the words “virtual reality”, you may think of video games or science fiction. But how is VR used in business? Gain a…
8 Important Retail Merchandising KPIs in Category Management
Modern technology and research methods have provided the retail industry with incredible access to consumer data. When correctly analyzed, this information can be used to understand consumers and improve organizational performance. Today’s Category Managers and Consumer Insights Analysts use technology like virtual reality eye tracking and artificial intelligence to gather market research. These advanced research…
4 ways to use VR for retail innovation in 2021
CPG companies and retailers can now take advantage of virtual reality technology to more efficiently build retail labs, merchandise stores, and conduct consumer research. The lasting effects of the 2020 pandemic have dramatically changed technology use, consumer behaviors, and brick and mortar store operations. Executives are working from home and physical stores are constantly evolving…
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