How to Break into the Retail Technology Industry

From virtual reality shopping to AI-powered customer service, the world of retail technology is full of exciting opportunities. Not only do you get to be surrounded by the latest retail gadgets and gizmos, but you also get to help customers take their shopping experience to the next level.

Whether you’re looking to start your tech career or are an experienced professional looking for your next opportunity, this article has everything you need to know to succeed in the exciting and constantly evolving field of retail tech. Read on to learn about the role of technology in retail, popular retail tech jobs, and the top retail tech companies to work for.

What Is the Role of Technology in Retail?

In recent years, retail technology has transformed the way we shop and do business, from ecommerce platforms to omnichannel retails that offer a combination of online and in-store experiences. For instance, it’s enhanced the way retailers manage inventory, payments, customer data, and consumer experiences. Here are some examples:

• Retail uses radio-frequency identification (RFID) technology for inventory management.
• Payment systems have become more advanced to provide an simpler customer experience.
• Virtual and augmented reality has improved in-store experiences and provide personalized shopping recommendations.
• Data analytics helps retailers analyze customer data to personalize marketing campaigns and improve the overall customer experience.

Current Retail Technology Trends

Retailers rely on technology to keep up with the rise of e-commerce, online shopping, customer demands, and competition. Below, you’ll find more about the most common types of technology in retail stores.

Point-of-Sale (POS) Systems

POS retail technology comprises hardware and software systems that process customer transactions. It typically includes cash registers, barcode scanners, and payment processing systems. Modern POS systems provide retailers with valuable data and insights into customer behavior, inventory management, and sales trends as well.

They can even be integrated with other retail technologies such as inventory management software and customer relationship management (CRM) systems to help streamline customer shopping.

Mobile point-of-sale (mPOS) systems allow retailers to process sales transactions on the go via mobile devices. With mPOS systems, retailers can accept payments anywhere, anytime, and through a variety of payment methods (e.g., credit or debit cards and mobile wallets).

Inventory Management Software

Retailers use inventory management software to keep track of their merchandise and ensure that they always have the right products in stock. These systems track inventory levels, sales, and customer demand in real-time, allowing retailers to make informed stocking and purchasing decisions.

Many inventory management systems include features such as barcode scanning, automated reorder notifications, and integration with other systems such as POS and accounting software. This helps retailers reduce operational costs, streamline inventory management processes, and provide better customer service by ensuring that the right products are available.

Customer Relationship Management (CRM) Tools

CRM tools are software platforms that help retailers manage their customer interactions and data, allowing them to provide personalized experiences to their customers. These tools help retailers track customer purchase history, preferences, and feedback, so they can tailor their marketing strategies and product recommendations to each individual customer.

CRM tools also enable retailers to respond to customer inquiries, complaints, and feedback quickly and efficiently. This can help retailers build trust with customers and improve customer satisfaction.

What Role Does Analytics and Artificial Intelligence Play in Retail Technology?

Analytics and AI enhance the retail customer experience with personalized and efficient service. With the help of analytics and AI, retailers can analyze customer data and make real-time decisions about inventory management, pricing, and marketing strategies.

Retailers can also use AI-powered chatbots to provide 24/7 customer service, which improves the customer experience while reducing staffing costs. Analytics and AI can also help retailers better understand and predict customer behavior.

Mobile Commerce

Many retailers—both online and brick and mortar—have created mobile-friendly websites and apps with mobile-exclusive deals. Mobile commerce has also allowed small businesses to expand their reach beyond their local markets and compete with larger retailers.

Virtual and Augmented Reality

Virtual and augmented reality have brought about a significant change in the retail industry. Through virtual reality, customers can experience a product before purchasing it. So you can use a headset to see how furniture will look in your home before buying a new couch.

Augmented reality allows customers to see a product in a real-life environment through the camera feature on their cellphones, providing a more realistic shopping experience.

Blockchain Tracking Tools

Blockchain technology enables retailers to track products at every stage of the supply chain, from the manufacturer to the end consumer. This helps retailers ensure that the products they sell are authentic. It also provides transparency in the supply chain, making it easier to pinpoint where problems originate.

Blockchain Payment Systems

Blockchain payment systems use blockchain technology to facilitate and verify transactions with Bitcoin and other cryptocurrencies without the need for third-party processors.

Many retailers today use blockchain payment systems to reduce transaction costs and increase security, making payments more efficient and secure. This can improve the overall shopping experience for customers and increase trust in the retail industry.

8 Careers in Retail Technology

Whether you’re looking for a job in IT or marketing, the world of retail technology has plenty to offer. Below, you’ll find a list of the top eight retail tech careers.

1. Software Developer

What you’d do: Software developers create and maintain software applications used in retail. These can include POS systems, inventory management software, CRM tools, and e-commerce programs. They work closely with IT, business analysts, and other stakeholders to design, develop, and implement software solutions for retail technology.

What you’d need: A software development job typically requires a bachelor’s degree in computer science, software engineering, or a related field. You should also be proficient in programming languages such as Java, Python, C++, HTML, CSS, and JavaScript.

What you’d earn: Software developers earn a median yearly salary of $131,106.

Find software developer jobson Monster.

2. Data Analyst

What you’d do: Data analysts analyze and interpret data to help retailers make informed business decisions. They use statistical analysis and predictive modeling to extract insights from sales and customer data. They also forecast sales trends, identify patterns in customer behavior, and evaluate the effectiveness of marketing campaigns.

What you’d need: To get a data analyst job, you need a bachelor’s degree in mathematics, statistics, computer science, or a similar area of study. You also need proficiency in programming languages such as SQL, R, Python, and SAS and an understanding of database systems such as MySQL and spreadsheets such as Microsoft Excel.

What you’d earn: The median annual salary for data analysts is $81,084.

Find data analyst jobson Monster.

3. Project Manager

What you’d do: In retail, project managers take on a variety of tasks to ensure successful project completion—from store remodels to marketing campaigns. They manage project timelines and budgets, oversee teams, and communicate with vendors, designers, contractors, stakeholders, and other parties involved in a project.

What you’d need: If you want to become a project manager, you’ll need a background in business, IT, engineering, or a related field. You should also be proficient in project management methodologies such as Agile, Scrum, DevOps, Lean, and Six Sigma. Many project managers are certified by the Project Management Institute (PMI) and possess strong leadership, time management, decision-making, budgeting, and problem-solving skills.

What you’d earn: Project managers earn a median salary of $108,249 per year.

Find project manager jobson Monster.

4. E-commerce Manager

What you’d do: E-commerce managers oversee, manage, and improve companies’ online sales strategies. This typically includes managing companies’ e-commerce websites, implementing digital marketing campaigns, monitoring website traffic, and analyzing sales data to identify trends and opportunities for growth.

What you’d need: Becoming an e-commerce manager requires a mix of technical, creative, and managerial skills. You should be proficient in web design, digital marketing, design tools (e.g., Adobe Photoshop and Illustrator), and coding languages (e.g., HTML, CSS, and JavaScript). Plus, you should understand consumer behavior, industry trends, and market analysis.

What you’d earn: The median salary for e-commerce managers is $84,776 per year.

Find e-commerce jobson Monster.

5. IT Manager

What you’d do: IT managers are responsible for managing the technology and computer systems used to run retail businesses. This includes everything from POS systems and inventory management programs to security systems and employee scheduling software. They also work closely with other departments to understand their needs and develop solutions.

What you’d need: An IT manager job requires a bachelor’s degree in computer science, IT, or a related field. Plus, you’ll need several years of IT industry experience, and the ability to manage teams, communicate with stakeholders and executives, and make strategic decisions. Many IT managers have certifications such as CompTIA Project+, Certified ScrumMaster, and ITIL Foundation.

What you’d earn: IT managers earn a median yearly salary of $95,931.

Find IT jobs on Monster.

6. Digital Marketer

What you’d do: Digital marketers play a vital role in promoting products, building brand awareness, and increasing customer engagement. They use a variety of digital channels such as social media, email marketing, and search engine optimization to reach potential customers and boost retail sales. Digital markets also analyze consumer data and develop marketing strategies accordingly.

What you’d need: To become a digital marketer, you’ll need a bachelor’s degree in marketing, communications, or a related field. Many digital marketers gain practical experience through internships, freelance work, and entry-level marketing jobs. To be successful as a digital marketer, you’ll also need to possess strong communications skills, be able to analyze data and metrics, and be adaptable.

What you’d earn: The median yearly salary for digital marketers depends on the job type. For example, digital marketing specialists typically earn $77,166 per year, while digital marketing managers earn $128,897.

Find digital marketing jobs on Monster.

7. Information Security Analyst

What you’d do: Information security analysts are responsible for protecting customer data from cyber threats. They monitor companies’ computer systems and networks for security breaches and investigate potential security incidents. They may also create and implement security policies and protocols to ensure compliance with industry standards and regulations.

What you’d need: An information security analyst job typically requires a bachelor’s degree in computer and information technology, computer science, cybersecurity, or a related field. You should also have previous IT work experience and a certification such as the Certified Information Systems Security Professional (CISSP) offered by (ISC)2.

What you’d earn: The median salary for information security analysts is $117,750 per year.

Find information security analyst jobs on Monster.

8. Machine Learning Engineer

What you’d do: Machine learning engineers develop and implement data-driven models and algorithms to optimize and improve business operations. They also work with large sets of data to identify patterns and trends, forecast sales and inventory demand, and create recommendations to offer personalized product suggestions to customers.

What you’d need: To become a machine learning engineer, you’ll need a bachelor’s degree in computer science or mathematics with a strong foundation in linear algebra, calculus, and statistics. You’ll also need a deep understanding of programming languages such as Python, R, and Java.

What you’d earn: Machine learning engineers earn a median annual salary of $120,147.

Find machine learning jobs on Monster.

Top Retail Technology Companies

Do you want to be at the forefront of retail technology? Below, you’ll find the top retail tech companies to work for.

1. Salesforce

Salesforce is a cloud-based software suite that retailers use to manage customer relationships, sales, marketing campaigns, and customer support. Salesforce allows retailers to manage their customer data in one centralized location, making it easy to track customer interactions and preferences.

Retailers can also use Salesforce to:

• Create targeted marketing campaigns by sending personalized emails to customers based on their purchase history and interests.
• Manage their sales pipeline by tracking leads, opportunities, and deals.
• Gain insights into their sales performance and make data-driven decisions.

Salesforce has nearly 75,000 employees and serves about 150,000 companies worldwide.

Find Salesforce jobs on Monster.

2. Square

Square is a popular payment processing system. It includes a small device that can be plugged into a smartphone or tablet, enabling retailers to read credit and debit card information and process payments instantly. It also allows retailers to send invoices to customers, accept online payments, manage inventory, track sales, and view analytics.

Square employs more than 12,000 people and is used by millions of businesses around the world.

Find Square jobs on Monster.

3. Amazon

Amazon is one of the world’s largest online retail technology platforms that allows customers to buy almost anything from the comfort of their home and have it delivered to their front doorstep.

Amazon Web Services (AWS), a cloud computing and storage service, offers a wide range of scalable and cost-effective computing resources. Many retailers use AWS to expand their IT infrastructure, analyze customer behavior, power their online stores, build mobile apps, and protect business and customer data.

Amazon hires software engineers and UX designers to manage the company’s website and applications. Plus, the company hires retail business analysts to identify and analyze consumer trends, patterns, and insights. Today, Amazon has more than 1.6 million employees and over 300 million customers worldwide.

Find Amazon jobs on Monster.

4. Microsoft

Microsoft is one of the world’s largest providers of software, consumer electronics, and personal computers. Many retail companies use the cloud platform Microsoft Azure because it allows them to store and analyze large amounts of data about their consumers, sales, and inventory. This helps retailers make more informed business and marketing decisions.

Microsoft employs about 228,000 people and has nearly 25 million monthly users worldwide.

Find Microsoft jobs on Monster.

5. IBM

IBM is one of the world’s largest IT companies. It has been responsible for many breakthroughs in the tech industry, including developing the first automated teller machine (ATM), and universal product code (UPC), POS system, and self-checkout system.

IBM employs more than 305,300 people and operates in over 170 countries around the globe.

Find IBM jobs on Monster.

6. Intuit

Intuit is a leading software company that specializes in financial management software for businesses and individuals. Many retailers use Intuit’s QuickBooks account software to track expenses, create invoices, manage payroll, and generate financial reports.

Intuit has over 18,000 employees and more than 100 million customers around the world.

Find Intuit jobs on Monster.

7. ADP

ADP is a tech company that provides HR solutions and payroll processing services to businesses. It also provides advanced inventory management, POS software, and data analytics tools. These products and services help retailers optimize their sales performance and better understand their customers’ buying behaviors and preferences.

ADP has about 64,000 employees and more than 810,000 clients worldwide.

Find ADP jobs on Monster.

8. Oracle

Oracle is a leading provider of database management systems, cloud computing, and enterprise software products. It provides retailers with insights into their data, allowing them to predict future trends and make well-advised business decisions.

Oracle employees about 159,000 people and has more than 70 million worldwide users.

Find Oracle jobs on Monster.

Skills and Qualifications You Need for Retail Technology Jobs

Working in retail technology requires both technical and business expertise. The skills and qualifications you’ll need include:

• Technical skills: You should have a strong understanding of technology and be comfortable working with software and hardware.
• Communication skills: Strong communication skills are essential when working closely with both technical and non-technical team members.
• Analytical skills: The ability to analyze data and identify trends is critical, since it helps retail companies make informed decisions.
• Experience with retail tech systems: Proficiency in POS systems, CRM software, and inventory management tools is often required for retail technology
• Adaptability: Retail tech is a rapidly changing field, so the ability to adapt to new technologies and workflows is essential for success.

Ongoing Learning and Professional Development in Retail Technology

Since retail is an ever-changing industry, it’s important for retail tech professionals to keep up with the latest retail technology trends and technologies. This means investing in ongoing learning and professional development.

Some of the most popular retail technology training programs include:

• Oracle Retail Technology Group Training and Certification.
• Retail Management: Retail Technology and Security offered by Alison.
• Retail Management Certificate offered by Western Association of Food Chains.

Download Monster’s App to Join the Retail Tech Revolution

Finding a job in retail technology has never been easier. Just download Monster’s job search app to receive daily job matches that fit your unique skillset and experience. Plus, you’ll be able to apply to jobs that interest you with a simple swipe or click.