How 5 G Will Affect Retail Industry
The biggest ever game-changer in telecommunication will be the full commercial launch of a 5G wireless network. It is bringing with it such a gigantic transformation in lifestyle that even at the experimental stage it has initiated a plethora of conspiracies. The people at large are taking it just another initiative of telecommunication. This is perhaps the grave misconception about the technology launch. It is going to affect every aspect and segment of life, production, export, logistics, commerce, retail, social media, communication, and the whole lifestyle itself
Though 5G wireless networking considered as a tool of connectivity of mobile phones and internet devices the impact will however be on other aspects of life too. The complex industries like e-commerce, banking, and logistics are now depending on mobile phone technology. Research has indicated that within 5 years from now the 65 % of the global population will actively be connected with 5G wireless networks. The existing mobile networks will make fast upgrading. Some companies even have started trial experimentation.
Impact on Retail Industry.
The impact of 5G on retail will be beyond imagination. Fast networking speed means fast computing. It will push the industry to introduce a more sophisticated and complex feature in their way of delivery, trading, selling, and procurements. The price tags, product information, and shelf stocks all is going to be monitored and managed in a live digital environment. It will ignite a super dynamism. A person entering a food or clothing store will immediately be recognized by the biometrics identities. The fast processors will sharply process and display the experiences of past online and on counter buying behaviors. The store branches and even the competitors will surely be sharing the data of customers for developing customized customer profiles. It will be helpful for buyers to make smart choices as well as save the time of retailers.
The Way it Will Work
The smooth functioning of digital tagging and the smart customized display is dependant upon the computing & communication speeds. The processors are already advancing through the 8th generation of i7. The 5G communication will be the fit answer to it. The innovation is going to facilitate both consumers and retailers. The intelligently processed data will be fast transmitted to mobile phones, tablets, and digital screens installed at retail outlets. The customers thus making the smart selection of desired products. It will be a unique experience and a plus to present online shopping where a buyer is only making a selection based on still product images.
Smart Digitalization of Inventory
The retail industry will surely have much more added advantages in exploring the possibilities offered by the 5G connected stores. The shelves will be fitted with sensors to keep a live record of products by digital tagging. Suppose a customer enters a store asking for a 24” collar shirt and there is none on the shelf. The sensors will immediately surf the back end storage and display the availability here in the store and the other store outlets even the other participating outlets. The customer then makes the purchase and the product will be delivered at home even before the customer reaches back at home. The same smart sensors will issue alerts on inventory reaching the minimum level fed in the system.
Wireless Logistics Connectivity
Similarly, the 5G will be supportive for manufacture to respond to alerts from the wholesalers. The alerts issued by the retail shelves will be compiled by the system to issue the demands to manufacturers/suppliers who in turn will make supply arrangements by the automated logistic arrangements. The robots will be working to smartly recognize the specific orders to compile and load the trucks and containers with the stuff to be delivered on particular routes. The drivers then will be guided by the smart navigation to check for the smallest easy delivery routes to avoid traffic congestion. The same will truly apply to the export industry where loading and transportation to port and lining up with vessels will be a matter of few clicks.
All this connectivity revolution will make it possible for the stores to install digitally smart counter sensing the customer queues, taking the information from the shelf sensors and matching it with the robot sorted trolly load on the counter. The prices of the purchases will appear on the counter screen asking customers to swap the card or just push a button to make a payment command from already saved card details. These counter even not be needing tellers to deal with long customer queues. All it seems a scene from a future science fiction film which is not true. The hard reality is fast taking shape and knocking to change the whole user experience even the lifestyle itself. Get ready for the future, the future is here.