Retailers are turning to new technologies such as digital signage, contactless payments…

Retailers are turning to new technologies such as digital signage, contactless payments and self-service checkouts to help them retain market share in the face of growing competition from online shopping.

That’s according to a new Datamonitor report entitled Shop X: where’s the store heading.

Digital signage, although expensive, is the fastest growing medium, the report says.

It is being used both in shelf-edge labelling to display prices and as a dynamic advertising vehicle.

Some digital screens can determine the sex and approximate age range of viewers, allowing the advertising to be tailored to the most appropriate audience.

Contactless payment technology, which does away with the need for signatures or PIN numbers, is faster than paying by cash or by credit/debit cards.

This helps to reduce queuing times, and so improves the customer experience.

It means mobile phones are set to become more important to retailers – both as a secure payment device, and soon as a marketing medium, using Bluetooth technology.

Self service checkouts are attracting the most interest among new technologies, says the report, due to their potential to cut costs, queue times and provide a solution to employee shortages.