Technology – The Future Of Retail
An Authored Piece by Dinesh Kathuria, Co-Owner, The Liquor Store, India In India, the retail sector has seen several transformations and grown dramatically over the last decade. Post-pandemic, we have been witnessing a major reform in
An Authored Piece by Dinesh Kathuria, Co-Owner, The Liquor Store, India
In India, the retail sector has seen several transformations and grown dramatically over the last decade. Post-pandemic, we have been witnessing a major reform in the retail sector. The quick adoption of technology by retail businesses is helping the sector’s growth in India. With technological progression guiding the way, several industries across various verticals are exploring different drivers of growth, opportunities, and success.
The retail industry is not far behind when it comes to tapping into new advancements and strengthening the roots to secure its future in the country. One of the key factors accelerating profitability and helping retail to be more competitive is augmented reality (AR)
In my opinion, Technology plays a critical part in enriching and making the experience memorable. By enabling a self-discovery function and eliminating the requirement for human contact, the AI-based lift-and-learn AR system allows users to have an immersive experience of all the intricacies of the product. We have capable employees on hand to assist you at all times, but if you prefer to browse and explore on your own, our AR system will answer any of your questions.
Talking about my experience while in the UK, I was fortunate to experience the Scottish whiskey trails. This led us to brainstorm the concept of merging technology and retail together and to bring this novel experience to India for the first time by launching the First AR Immersive Liquor Store; as this is something that is sorely lacking currently in the Indian market. Having 30 years of experience gives us a unique insight and background of the Liquor industry, which we have utilized to bring this concept from inception to conception.
AR development has the potential to revolutionise the future of alcohol retailing and customer interaction.
The future of AR technology in retail will help the consumer by increasing their awareness of the product. By bringing the experience to retail, consumers will be able to see not only the flavour profile of the product but also the entire distillery process.
Whisky enthusiasts and shoppers will be able to enjoy a virtual tasting experience provided directly from Scotland’s whisky distilleries at the stores, giving them
better insight into and knowledge of the product and a better buying experience. Some experiences will let customers “stay at home” while they learn immersive cocktail curating techniques from bartenders or whisky makers. This advanced method will bring more knowledge and vast awareness to the consumers, following the code of “drink responsibly,” where consumers will also be taught about the dangers of binge drinking in a well sophisticated manner.
With changing market dynamics and millennials trying new labels and crafts of whisky; it becomes a great opportunity for vast exploration and awareness of the new products in the market.
Customers who value personal interaction will discover that AR technology will become a lock and key model, opening many doors for the retail alcohol industry in terms of a major customer retention strategy.
Furthermore, its a very vast subject with unprecedented act in the alcohol retail ; it opens up many new opportunities and deep connections within the industry and distillery giants which can fill up many gaps which has been there for over many years. Bringing a closure to understand one’s personal choice of drink with the AR and having to know about it in all with the Virtual Reality without spending a dime to visit the actual distillery.