Technology Saves Retailers 20% In Operational Efficiency

Predictive analysis can help companies increase personalization and conversion rates. As the industry adapts to increasing consumer demands and seeks efficiency improvements, predictive tools are becoming a vital component in optimizing operations, particularly during high-traffic periods. 

“Supermarkets and shopping centers are increasingly becoming technological spaces, where logistics, refrigeration systems, and computational systems are vital. A failure in any of these elements can disrupt service to the consumer, especially critical during high-demand seasons,” says Christian Struve, CEO, Fracttal.

As a result, many retailers are integrating advanced technologies like AI, big data, and the Internet of Things (IoT) to automate processes and enhance the customer experience. A report from IDC projects a 5.5% global increase in IT spending for 2024, with many businesses investing in tools that allow for real-time data analysis and decision-making.

In the physical retail space, predictive analytics enhance operations and improve customer engagement. For example, AI systems can predict customer behavior and help retailers adjust inventory levels and staffing to meet demand. This real-time insight enables businesses to avoid stockouts and overstocking while optimizing promotions and marketing strategies.

AI-powered tools are becoming essential for improving operational efficiency, personalizing experiences, and boosting conversion rates. “Real-time predictive analytics will become fundamental in retail operations. It allows businesses to anticipate customer behavior and quickly adjust to market shifts,” says Anabell Trejo, CEO and Co-Founder, Getin, to MBN. “This capability enables retailers to manage promotions, inventories, and data-driven decisions instantaneously, avoiding stock issues and optimizing profitability.”

Meanwhile, contactless payment systems and digital wallets are gaining traction due to their convenience, security, and speed. These technologies, supported by blockchain and biometric authentication, are not only enhancing the consumer experience but also enabling retailers to build trust and foster long-term loyalty.

In addition to improving operational efficiency, predictive analytics and automation offer retailers the ability to make proactive, data-driven decisions. The integration of real-time data across departments — such as supply chain, marketing, and finance — helps retailers respond faster to market shifts and improve cross-functional collaboration, according to Trejo.