ICT and the Future of Retail

A new research report from Ericsson and Imperial College London examines how near-ubiquitous access to ICT and information is transforming relationships between consumers and retailers.

• Big data and information value chains from M2M and IoT technologies are allowing retailers to respond significantly faster to fine-grained real-time information about consumers.
• Enhanced local data and digital communications channels allow micro-enterprises to rapidly target and fulfill niche demands, creating potentially disruptive new micro supply chains.
• Personalized and customized products are increasingly viable due to digitally enabled ordering and manufacturing systems including 3D printing.
• Emerging "sharing economy" platforms extend the after-market life of products and create entirely new service models for individuals, entrepreneurs, retailers and manufacturers alike.

These are just a few the technological forces currently driving change within retail, as identified in the latest horizon scan outlining the potential impacts of ICT on various industries. Based on in-depth research in collaboration with Imperial College London, the report identifies some of the key digital enablers creating systemic transformation within the retail sector.

Ericsson Nikola Tesla experts have an active role also in this area developing Machine-to-Machine Data Management system, one of the key parts of Ericsson platform for Service Enablement. This system enables aggregation, storage and transformation of data from various devices from several industries like cars, cranes, smart meters as well as from mobile phones. This can be used for their connection with different applications, what offers new possibilities also in retail sector.