How 5G Will Change Retail

How 5G Will Change Retail

5 Key Opportunities for Growth

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About This Report
5G networking services are starting to gain traction with consumers—and the retail industry. This report explores the role of 5G in the retail industry and discusses five applications of 5G wireless networks that can enhance or transform retail.
Table of Contents

Executive Summary

Though still in the early stages of rollout, 5G technology could bring about positive changes to the retail industry, as retailers seek to maintain their digital transformation efforts and bring consumers safely back into stores in 2021.

What retail applications will be affected by 5G?

Retailers will use their IT investments in 5G to enhance the customer experience, both in-store and online. On the customer side, augmented reality (AR) and virtual reality (VR) applications and payment systems will be beneficiaries. Further, investments in store data and analytics and internet of things (IoT) systems, including computer vision systems, will bolster store operations like inventory management and fulfillment.

How can 5G enhance or transform the retail experience?

Retailers consistently talk about enhancing the customer experience through personalization. 5G services will help deliver store inventory information and in-store location services via AR applications to customers more quickly, while employees will get immersive, on-site training to stay up to date with everything from display arrangement to management training.

How should retailers get ready for 5G?

Executives in the retail industry understand that while 5G services are in the early stages of deployment, they need to prepare for the future. That means investing not only in 5G-ready devices and services, but also in the development of applications that support AR experiences and store and process data. Additionally, partnering with other players in the 5G ecosystem will make bringing innovations to market easier.

WHAT’S IN THIS REPORT? This report examines five key areas of the in-store retail experience that 5G technology can enhance or transform.

KEY STAT: Per January 2020 data from Splunk, 21% of retail IT and business managers worldwide said their organization was currently using 5G services, and 63% expected their company to adopt 5G services in the future.

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Table of Contents

  1. Executive Summary
  2. Key Points
  3. Upgrade: The 5G Network Difference
  4. 5G’s Growing Role in Retail
  5. AR and VR Applications
  1. Store Data and Analytics
  2. Store Operations and Infrastructure
  3. Connectivity for IoT Devices
  4. Payments and Mobile Commerce
  5. Getting Ready for 5G
  1. Insider Intelligence Interviews
  2. Read Next
  3. Sources
  4. Media Gallery

Interviewed for This Report

Fay Arjomandi
mimik
Founder, President, and CEO
Interviewed January 14, 2021
Steve Canepa
IBM
Global Managing Director, Telecommunications, Media and Entertainment Industry
Interviewed January 22, 2021
Greg Kahn
Internet of Things Consortium (IoTC)
President and CEO
Interviewed January 21, 2021
Guy Moshe
Shekel Brainweigh
Co-Founder and CTO, Retail Innovation Division
Interviewed February 2, 2021
Udi Wiesner
Shekel Brainweigh
General Manager, Retail Innovation Division
Interviewed February 2, 2021
Emrah Gultekin
Chooch AI
Co-Founder and CEO
Interviewed September 9, 2020

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Read This With Insider Intelligence

authors

Jim Davis

Contributors

Rayna Hollander
Analyst
Chris Keating
Director, Research
Victoria Petrock
Principal Analyst
Amy Rotondo
Director, US Research
Sara M. Watson
Senior Analyst
Yoram Wurmser
Principal Analyst