The second benefit is closely associated with the first and is derived from being able to provide a unique and improved shopping experience. By synergizing the best of mobile technologies, online convenience, and the experience of in-store shopping, retailers will be able to create a revitalized in-store environment that incorporates multichannel resources and engages customers.
Venture Beat went on to say that taking direct communication one step further, retailers could soon benefit from hyper sensitive context-advertising. By tapping into the present-time activity customers partake in, retailers could offer targeted products at just the right time and without disrupting the consumer's behaviour.
For example as consumers log into a watch app to track fitness goals, or check into the gym, an active gear retailer may generate a running shoe ad and choose to include a coupon to spark my interest.
According to Giovanni DeMeo vice president of Global Marketing and Analytics at Interactions these benefits pose one of the biggest challenges retailers face today.
He said "It's slow to integrate new technologies with older legacy systems that most large retailers currently have in place. At the same time, it's not easy to replace or modernize current legacy systems. But newer cloud technologies like Platform-as-a Service and Mobile Backend-as-a-Service provide cost-effective ways to enable retailers to quickly build apps from the ground up, while still maintaining the older IT infrastructure".
He added "Switching over to something completely new may cause a few rollout headaches at first, but it really depends on the appetite for delivering a better technology experience for customers. Ultimately, retail systems built from the ground up will be the faster, more efficient way to get these new technologies out into the mainstream".
He said that retailers will not find benefits in the technology itself, but rather from embracing consumer's evolving mobile lifestyle and leveraging wearable technology to provide customers with a seamless technology integration that enhances their lives and makes shopping easier. Critics argue that there is no revenue benefit or new data that arises directly from wearable technology, and dwell on the limited opportunities consumers have to use it. The truth is that technology is constantly evolving and becoming a more integral part of everyday life; wearable technology is at the forefront of the next technology wave.