GRENKE - The Future of Robot Technology in the Retail Sector

Innovation is a key focus for many sectors and retail is no different. Robots are one of the many pieces of technology that are quickly becoming an important component within the industry. They can add value to many stages of the supply chain to encourage sustainable growth. Robots are becoming the first customer touch point in retail outlets and alongside machine-learning, artificial intelligence and analytics, it can enhance the levels of customer engagement.

Warehouses globally across the retail sector are looking to leverage robots to increase efficiency and upgrade the responsibilities of their employees. The global robotics market is estimated to reach USD 87 Billion by 2025 according to Boston Consulting Group and it is believed that with retail constantly being an early adopter of advanced technology, more than half of this will be allocated for the retail market. While the majority of innovation is occurring at the warehouse and supply chain level, retailers are beginning to realise that this must extend far beyond these.

Robotics can drive innovation in a wide variety of areas of operation across the retail value chain, and help boost top and bottom-line outcomes. Robots can make a difference at many points along the retail value chain from welcoming customers and in-store improvements to customer path observation and analysis.

Robotics are also responsible for boosting productivity in the logistics and supply chain whether that’s picking orders or monitoring stock. For example, the use of robots in the logistics and supply chain reduces the level of administrative errors, achieving sizeable savings from stock-out shortages and losses while gaining the ability to move their sales personnel to functions that will drive higher sales. Furthermore, with drones beginning to deliver small packages, there is optimism that they will be able to deliver larger items in the near future.

Source: Grenke

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