FECOMERCIO
5G AND THE EFFECTS ON RETAIL
Economic Advisor Of The Federation Of Trade Of Goods, Services And Tourism Of The State Of São Paulo
By the end of the year, there should be an auction of the 5G network in Brazil, the most awaited data transmission technology in history – both for offering an internet connection ten times faster than the current one, and for contributing to the increase in the levels of long-term productivity of the economy.
For the consumer electronics activity, the impact of the 5G network can be divided into two fronts. The first is the launch of new products, compatible with the network, as it is one of the pillars for the development of the Internet of Things (IoC) and smart cities, as well as for the use of virtual reality and augmented reality technologies. In the future, consumers will be able to interact with the refrigerator at home to check for missing items when they are in the supermarket, for example – and these innovative products will be commercialized by retailers.
The second is the impact on the company’s operations, as the 5G network will provide more connectivity between brands and consumers, essential for retail in the current context of growing online sales and new payment methods. Additionally, tools such as augmented reality and virtual reality in the physical store will change the way space is structured, resulting in lower costs. In short, significant changes are on the way, and the entrepreneur must be prepared to get ahead of the competition.
Source: Revista Eletrolar News #145
