Tech Trends That Will Impact the Highstreet in 2020

by Startacus Admin

The future and success of Britain’s high streets has been long debated. So, what are the tech trends that could help impact the Highstreet in 2020? Ian Jones, founder of LoLo, an app that rewards shoppers for buying and eating from local restaurants and retailers, shares his thoughts...

In recent years the future and success of Britain’s high streets has been long debated; what’s in store for the future, will there even be a high street? But unexpectedly, as the high street sees larger chain stores closing such as Toys’R’Us and Mothercare, independent stores are increasingly thriving rather than surviving. Retailers are set for an exciting year in 2020 with technology gearing more shoppers to their local high street to support their local communities and influencing shoppers to spend more. So, what are the biggest tech innovations that are rebuilding our highstreets?

A surge in apps that are helping high street

In 2019 there was a surge in new apps being released to support Britain’s local high streets up and down the country. These apps provide an incentive for high street shoppers by enabling them to earn tokens as they buy products and services locally. The more they shop, the more they earn, which means the more they can spend locally too. By incentivising shopping locally, these apps are aiming to support local businesses, local economies and local jobs.

More independent retailers offering click and collect

Independent high street retailers are offering more click and collect services to users in order to get them to into the stores. Click and collect works for independent retailers because whilst shoppers are in-store they might also want to pick up something else that they see. This is also beneficial for the retailers themselves as it allows them to save money on distribution services. Already a popular function for larger retailers, this is a trend that smaller retailers are now seeing the benefits of and thus adopting

Small retailers will understand how to utilise customer data

Independent retailers will realise the power of their customer data and will start to use these to market on social media and gain further clarity on who their audience really are. With more independent retailers jumping on the social media bandwagon, shop owners will be able to harness a deeper understanding of their shopper’s spending and buying habits to further help them to market to their key target audience. As well as this, expect to see smaller independents utilising customer data to advance their marketing activites.

More stores will embrace IoT

Automated checkout, personalized discounts and smart shelves are all advancements that are powered through IoT. Now, customers can receive alerts and notifications of offers when they are near a store. This is powerful way of edging customers in to store and increasing footfall, particularly for high street retailers, so expect to see more stores embracing the power of IoT in 2020

The emergence of the visual search tool

There is increasingly more research to support that shoppers want the option of visual search, something that online fashion retailer, ASOS has adopted. Visual search allows consumers to snap pictures of items that they like/want to purchase and search the retailer’s online store by uploading the image. This is a function that can be quite expensive to run so larger retailers will more than likely be adopting this before any independents, however, research ahs shown that stores that do embrace this function can expect to see a surge in profits by 2021. 

About Ian Jones...
Ian Jones is a Founder and CEO of LoLo, an app that rewards shoppers for buying and eating from local restaurants and retailers. Ian has extensive experience working across major companies and leading teams, developing business and increasing cash flow and profit within them.  Ian is a key player in raising awareness on the importance of the high street and the lack of support from large international online platforms on this issue.

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• #retail
• #2020
• #tech trends
• #high street
• #highstreet

Published on: 20th January 2020