Home COVID-19 COVID-19 Pandemic Jump-Started Technology-Driven Innovation Among Retailers

COVID-19 Pandemic Jump-Started Technology-Driven Innovation Among Retailers

by Kelsey Winick
Technology-Driven Innovation

In the face of the COVID-19 pandemic, retailers have had to find solutions through technology-driven innovation to provide for their customers. The pandemic expedited many brands’ path to digital transformation. For example, customer desire for cardless ATMs and near field communications (NFC) became more apparent this past year.

Is Technology the Problem or Solution for Retailers?

Technology offers ways for retailers to use technology-driven innovation to find solutions to customers issues. This can be seen by Walmart implementing voice technology that allows for ease of online shopping. Tom Ward, Senior Vice President of Digital Operations for Walmart U.S., demonstrated the insight into customers when he stated that “we know when using voice technology, customers like to add items to their cart one at a time over a few days – not complete their shopping for the week all at once.”

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How NFC is Changing the Way We Interact with ATMs

NFC technology has become a must in 2020, since many individuals are paying more attention to touch surfaces. When many retailers closed their doors, including banks, cardless ATMs also became increasingly important. Mike Lee, CEO of the ATM Industry Association, stated that “cardless transactions take just ten seconds for customers to get their cash, compared to around 30 seconds for traditional card withdrawals. Speed is a very important part of consumer experience.”

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As Coronavirus Shutdown Affects Restaurants Self-Service Kiosks May Help

Sam Zietz, CEO of GRUBBRR, an emerging technology company that creates and delivers ordering solutions that help restaurants increase business efficiency, stated that, due to the pandemic, “we are noticing the consumer preference is to use the kiosk versus interacting with a cashier. This change had already started but has accelerated, because people don’t want to have physical contact or close contact with cashiers.”

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