The world's largest specialized exhibition for retailers and their partners EuroShop 2020 was held in Dusseldorf from February 16 to 20. The event takes place once every three years. This year it brought together more than 2,300 participants from 60 countries. In total, about 114,000 guests visited the exhibition this year.
This trade fair is a perfect place for retailers to exchange experiences and learn about innovations in the world of retail equipment.
“EuroShop is a great opportunity to learn about the latest trends in the global retail market, get acquainted with the latest equipment for the retail sector and discuss with industry experts the main market problems and consumer demands,” says Emil Musaev, Head of the Retail Department at BS/2. “The world of retail equipment is changing, and we can note some trends in these changes.“
1. Retail Equipment of the future is entirely modular
Most manufacturers of retail solutions have begun to produce modular systems. The equipment becomes interchangeable – any part can be replaced. This concept speeds up equipment servicing and reduces repair costs.
“For example, our partner Diebold Nixdorf introduced a modern modular cash register. It consists of a computer, separate screens for the cashier and customer and a receipt printer. Any of these modules can be quickly replaced if necessary. Another partner – Bizerba, released modular scales - the KHIII-800,” says Emil Musaev.
2. Artificial intelligence analyzes customer behavior
The second trend that experts are talking about is the use of artificial intelligence to analyze consumer behavior. Using tools powered by AI, retailers track the habits, behavior and even mood of their customers!
“For example, many stores use artificial intelligence to process information received from CCTV cameras and determine product interest by demographic,” says Emil Musaev. “Based on this information, consumer demand forecasts are made, goods are automatically ordered, customers are offered targeted advertising, special offers, and discounts on their favourite goods.”
In some retail chains, entire teams of marketers, analysts and software developers are engaged in studying customer behaviour.
3. Self-service is gaining momentum
Today, self-checkout terminals are gaining popularity around the world. The number of such devices grows, they are especially in demand in Eastern Europe - Ukraine, Russia. This year BS/2 plans to establish the first self-checkout in Azerbaijan.
“The human factor is practically eliminated when purchasing goods using self-checkout. The only cash desk at which all balances converge at the end of the working day is the self-service cash desk, ” - says Emil Musaev.
Conclusion
Retail chains always paid special attention to arranging stores, laying out goods, but now they devote the same amount of time or more to analyzing customer behavior. Some customers like to go shopping and choose their own products, others prefer to order from online stores - and retailers try to take into account the preferences of all consumer groups in order to provide them with maximum convenience. Sellers want to know their customers, their needs, the desired shopping basket. They use artificial intelligence, biometrics and are ready to invest in new equipment and technologies.