Technology will save the high street, predicts Grimsey Review
It won't be long until the high street resorts to using technology to tempt customers back, predicts the Grimsey Review.
According to telegraph.co.uk, more than 11 per cent of shops are currently vacant and the Grimsey Review of the high street says that a town centre must now provide more to customers than just shops.
The review also said that the high street will invest in technology, such as cloud-based tools, to attract more customers. It even suggests that in the future, prices and promotions could be based on how quiet or busy trade is that day, and that shops will use facial recognition tech to monitor their customer's moods. If a customer is feeling down for example, the store could offer them a discount on chocolate to help cheer them up, reports retail-week.com.
It's also suggested that future shops could become stockless and instead allow customers to search through a virtual catalogue in the form of a hologram based fashion show.
If these strategies were implemented in the future, shops and other businesses could see a big rise in activity.
Bill Grimsey, who is behind the review, said: "This high street is around the corner. These things will begin emerging in the next five years, so we need to start preparing for it now."