Last week, the Digital Link team had the privilege of being on the ground in Paris for Tech for Retail 2024, one of the industry’s most forward-thinking events.
Surrounded by retail innovators, thought leaders, and technology pioneers, we had the opportunity to showcase how next-generation 2D barcodes are driving digital transformation in retail. From powering seamless shopper engagement to anticipating global shifts like the Digital Product Passport, we were thrilled to engage with an audience that is shaping the future of the industry.
The shift from traditional brick-and-mortar stores to online platforms is driving significant growth in online sales, transforming the retail landscape.
Here’s a look at the key trends and insights that defined the event and highlighted the transformative potential of technology in retail:
Introduction to retail technology
Retail technology, often referred to as retail tech, encompasses the digital software, platforms, and innovations that are revolutionizing the retail sector.
Over recent years, the retail industry has witnessed a significant technological transformation, fundamentally changing how businesses operate. From streamlining payments to leveraging generative AI, virtual reality (VR), and augmented reality (AR), retail technology is reshaping the entire commerce landscape.
Retailers are rapidly adopting these innovations to meet evolving consumer demands and enhance operational efficiency. As the retail sector continues to evolve, the integration of advanced digital tools is becoming indispensable for staying competitive and delivering exceptional customer experiences.
Pervasive AI across the retail ecosystem
Artificial intelligence (AI) was a dominant theme, underlining its integration into virtually every aspect of retail. From product R&D and supply chain optimization to marketing automation, customer experience personalization, and business intelligence, AI has moved from being a tool for select processes to an essential enabler across the entire value chain.
Retailers are leveraging AI to predict trends, reduce waste, optimize inventory, and even develop products tailored to customer demand. AI-powered marketing tools were particularly highlighted, showcasing their ability to analyze vast amounts of data to deliver hyper-personalized experiences at scale.
Additionally, AI is enhancing supply chains by improving efficiency and leveraging personalized data for customer recommendations.
The maturity of 3D and augmented reality for retail strategies
3D and augmented reality (AR) technologies have evolved from experimental tools to mature, scalable solutions. Retailers are now leveraging AR to enhance product visualization, offering immersive shopping experiences that allow customers to explore products in their homes before purchasing.
One of the standout trends was the integration of AR into e-commerce platforms, enabling shoppers to interact with 3D models of products in real time.
This is no longer limited to niche use cases; it’s becoming a core strategy for brands aiming to bridge the gap between physical and digital shopping experiences.
The circular economy as a driving force
Sustainability took center stage, with the circular economy emerging as a critical driver of innovation and consumer trust.
Retailers and brands showcased solutions designed to reduce waste, promote recycling, and offer new models like rental, resale, and subscription services.
The EU’s focus on the Digital Product Passport (DPP) was frequently mentioned as a key regulatory shift driving the adoption of circular practices.
Companies are now rethinking how they design, manufacture, and market their products to meet these new requirements and satisfy eco-conscious consumers.
Next-Generation 2D Barcodes as the future of retail connectivity
The move from traditional barcodes to next-generation 2D barcodes powered by GS1 standards was a major highlight. These advanced barcodes enable retailers to embed rich, dynamic data directly into product labels, transforming every item into a source of real-time, actionable insights.
Key benefits include:
- Dual compatibility with POS systems and smartphones, allowing seamless use at checkout and post-purchase engagement.
- Support for Digital Product Passports, offering transparency on product origin, materials, and recyclability.
- Enhanced shopper engagement by providing instant access to personalized content, product details, and promotions.
This technology was framed as a pivotal tool for retailers preparing to navigate global regulatory changes while also enhancing customer satisfaction and operational efficiency.
Omnichannel retail and seamless experiences
Omnichannel strategies remain a priority, with a renewed focus on creating frictionless customer journeys.
Retailers are leveraging technology to integrate retail stores with digital channels, ensuring a seamless transition between online browsing, in-store experiences, and delivery options.
One standout innovation was the use of smart in-store technologies like interactive displays and AI-driven recommendation engines, which personalize the shopping experience in real time.
Customer satisfaction and experience
In the retail industry, customer satisfaction and experience are paramount. Retail technology plays a crucial role in enhancing these aspects by offering personalized experiences, streamlining checkout processes, and providing convenient payment methods.
A recent study revealed that 56% of customers expect all retail offers to be personalized. By leveraging customer data and advanced analytics, retailers can create unique customer profiles and power recommendation engines, potentially increasing revenue by up to 40%.
Additionally, artificial intelligence and machine learning enable retailers to analyze customer feedback in real-time, allowing for continuous improvement of customer experiences.
By prioritizing customer satisfaction through innovative retail technology, businesses can foster customer loyalty and drive long-term success.
Inventory management and supply chain
Effective inventory management and supply chain operations are critical to the success of any retail business.
Retail technology offers powerful tools to optimize these components, ensuring that retailers can meet customer demand efficiently.
Technologies such as RFID and QR codes enable precise tracking of inventory levels, reducing the risk of theft and stockouts.
Furthermore, data analytics and machine learning can predict demand patterns, allowing retailers to optimize inventory levels and reduce waste.
According to a study, AI-driven demand forecasting can reduce supply chain errors by 20-50% and minimize lost sales by 65%. By harnessing these advanced technologies, retailers can enhance their supply chain resilience and operational efficiency.
Payment methods and security
In today’s digital age, offering secure and convenient payment methods is essential for retail businesses.
Retail technology provides a range of solutions to meet these needs, from contactless payments to digital payment services. A study found that 84% of consumers are concerned about identity theft, highlighting the importance of secure payment options.
Retailers can utilize digital payment gateways like Stripe and PayPal to ensure secure transactions. Additionally, blockchain technology offers a robust solution for securing transactions and preventing fraud.
By adopting these advanced payment technologies, retailers can build trust with their customers and provide a seamless shopping experience.
Data-driven retail: The power of analytics
The emphasis on data-driven decision-making was stronger than ever. Retailers showcased how they are using advanced analytics platforms to extract meaningful insights from customer behavior, supply chain operations, and sales trends.
These insights are driving more agile decision-making, allowing retailers to respond to market changes faster and more effectively.
Future of the retail industry
The future of the retail industry is both exciting and rapidly evolving, with retail technology at the forefront of this transformation.
To stay relevant, brands must balance innovation with practicality, continuously modernizing their operations. Technologies like augmented reality (AR) are becoming mainstream, offering new ways to enhance customer experiences.
Emerging innovations such as voice commerce, generative AI, and sentiment analysis are set to revolutionize customer engagement and review management strategies. The future of retail will be defined by the brands that can effectively harness these technologies to create seamless, efficient, and personalized customer experiences.
As the industry continues to evolve, the integration of cutting-edge retail technology will be crucial for driving growth and maintaining a competitive edge.
Key takeaways for retailers
Tech for Retail 2024 made it clear that the retail industry is at a pivotal moment. The integration of advanced technologies like AI, AR, and next-generation barcodes is no longer optional—it’s essential for brands that want to stay competitive.
Moreover, aligning with sustainability goals and global regulations such as the Digital Product Passport is becoming a key differentiator for retailers looking to build trust with modern consumers.
As these trends continue to unfold, the challenge for retailers will be to adopt these technologies in a way that enhances both customer experience and operational efficiency.
Collaboration with technology providers, such as Digital Link, will be crucial for navigating this complex and exciting transformation.
Tech for Retail 2024 wasn’t just an event—it was a glimpse into the future of retail, where innovation, sustainability, and customer-centricity converge to shape the industry’s next chapter.
We’re proud to have been part of this incredible event and look forward to continuing our work in transforming the retail industry with cutting-edge technology like GS1-powered 2D barcodes.
Together, we can build smarter, more connected, and more sustainable retail ecosystems.
