Transforming stores through technology

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The changing landscape of retail is bringing about transformations in physical stores. These changes are often a response to wider shifts in the economy, technology, and globalization. Over time, physical stores have evolved from small independent shops to department stores, supermarkets, hypermarkets, and shopping centers. Despite these changes, the physical store has remained a channel connecting producers and consumers, offering various payment options such as cash, credit cards, and digital wallets. However, in the last decade, e-commerce has experienced significant growth, with dynamic merchants capturing the largest market share. The COVID-19 pandemic has been a major shock for physical stores, which traditionally relied on face-to-face customer interaction. To adapt to the changing landscape, retailers are now challenged to adopt digital solutions such as e-commerce platforms, direct delivery services, data analysis, and virtual or augmented reality technologies to enrich the customer experience.