Michael Aldrich introduced the concept of "teleshopping," which later became online shopping and completely revolutionalized the retail industry.
3D printing is the process of making a physical object or product from a digital model. Although the idea and practice of 3D printing has been around for decades, just recently developers are attempting to make wearable, apparel products with 3D printers.
Invented by scientist Tim Berners-Lee who also wrote the first web browser computer program. It was originally developed for the automatic sharing of information between universities and institutions around the world.
Martin Goodwin and Bob Henry created the first point of sale software that could run on Microsoft IT Retail.
Amazon is an electronic commerce company that completely changed the retail industry and e-commerce as a whole. Today, it is the number one online apparel retailer next to Wal-Mart.
An IPO, or initial public offering, is the first sale of stock by a private company to the public.
Where stock markets saw their equity value rise rapidly from the growth of the internet
Web 2.0 was the second stage of development of the World Wide Web. This brought the change from static web pages to more dynamic content. This also generated the growth of social media.
When Apple launched the iPhone in 2007, it included full web-browsing and downloadable apps, which advanced e-commerce.
This was when social media outlets such as Facebook and Twitter were starting to be used more and more by consumers. Social networking allows for retailers and consumers to connect on a more personal level and interact directly.
Tesco introduced this in 2013. Using their Tesco Club Card, you can scan items as you add them to your cart. It keeps track of total costs and speeds up the check-out process.
Apple Pay, Android Pay, etc. are a mobile forms of payment and digital wallet services that let users make payments using their mobile device.
Many new technological advancements are currently affecting the retail industry or are going to be taken into practice in the future. Some of these retail technology trends are beacons, biometrics, mobile e-commerce and more digital aspects in brick and mortar stores.