Converged tech drives retail growth

Online retail giant eBay claims new shopping technologies will drive £2.4 billion of new sales by 2014, with interactive TV expected to have the most influence, IP&TV News reports.

Retail expert Conlumino predicts that, by the end of 2014, one in four UK consumers will regularly use interactive TV services to buy goods and services, generating nearly £750 million of direct sales.

Convergence will play a strong role in the future of retail tech, following the influence of augmented reality, iPads replacing tills, image recognition and smart devices.

Angus McCarey, UK retail director for eBay, says the global retail sector has entered a period of transformation, Internet Retailing states.

McCarey notes: “Consumers are driving this, as they demand more choice, more interactivity, specialist knowledge and price transparency.

“Third-wave technologies are about meeting those demands and presenting information back to consumers in ways that haven't been possible before, for example, using virtual reality to try clothes on, or watching your favourite show on TV and buying the box set at the same time.”

The Conlumino research reveals that by investing in evolving technologies, retailers could see growth of 3.7% by 2014, compared to 0.3% for those that decide not to adopt converged technologies, The Guardian says.