In disruptive times, consumers seek frictionless shopping experiences. Yet, legacy technologies hold retailers back from meeting expectations. As a result, customer loyalty wanes, and acquiring new shoppers is increasingly challenging.
Edge computing enables retailers to optimize digital and physical store operations. It delivers real-time data, allowing grocers, big-box stores, and quick-service restaurants to adjust stock levels and tailor customer experiences on demand.
Friction Drives Discomfort in the Customer Journey
While Covid-19 propelled e-commerce purchases, customers toggle between physical and digital shopping environments post-pandemic. And they’re not without options. Online retail and third-party delivery service websites display inventory levels, allowing consumers to check goods before placing an order or heading into the store. But stock levels are only sometimes correct.
According to PwC research, 63% of consumers report being unable to purchase in-store items “due to it being out of stock,” and 66% face busier locations or large store queues. This customer friction reflects poorly on the retailer, especially as the world moves beyond pandemic times and faces other challenges, like inflation and privacy concerns.
Indeed, a recent survey said only 12% of consumers said big-box retailers surpass “their overall customer experience expectations.” A failure to optimize store operations and provide personalized customer experiences will impact your brand’s market share.
Edge Computing Positively Impacts Retailers’ Bottom Line
The omnichannel retail space demands an innovative, agile, and secure solution. One that allows your retail business scalability to meet consumers’ needs and a rapidly evolving retail landscape.
The fact is that retailers need better options than legacy systems or cloud everything provide. Edge computing fits the bill. According to Gartner, around 10% of enterprise-generated data was “created and processed outside a traditional centralized data center or cloud” in 2018 and is expected to reach 75% by 2025.
Edge computing brings data processing to the network’s edge. Instead of retrieving vast amounts of information from the cloud or increasing on-site capacity, you do it nearby. As a result, you can reduce costs from data transfers and cloud and bandwidth usage.
Likewise, edge computing decreases cybersecurity risks. With fewer data breaches and non-compliance issues, your company can focus on building customer relationships rather than repairing them.
And this brings us to customer satisfaction. Retailers can use edge computing to analyze real-time IoT device data and customer interactions. QSRs can optimize menus based on any number of factors, from sales trends to customer preferences, and additionally review real-time demand and sales patterns when ordering inventory.
Gain a Competitive Advantage
Embrace edge computing and say goodbye to network connectivity issues and confusing omnichannel experiences. It can help your retail store thrive in today’s competitive market and build a sustainable business for the future.
