Ultimately, Smart Retail is about driving operational efficiencies. These can be quantifiably measured by tracking the value per square-metre of any given premises. For example, HEMA themselves expressly state that the annualised sales per square metre of their HEMA stores are more than ¥50K.
Many retailers, in their efforts to jump aboard the smart retail train, install technologies which are not yet refined and don’t actually raise value. A typical example is those virtual reality mirrors sometimes found in clothing stores. Presently, this technology isn’t yet good enough to be engaging or useful. Chinese customers are becoming increasingly savvy and capable of distinguishing great tech from marketing ploys. The general rule of thumb is that new retail technology must by definition raise the overall value per-square metre of the given outlet.