Supermarkets and stores are actively applying various innovative solutions to meet the needs of modern consumers, increase the efficiency of their operations and remain competitive in a rapidly changing market. In 2024, we see even more emphasis on technology, sustainable development and adaptation to changing consumer preferences.
5 main trends in the retail market of the Baltic countries in 2024
1. Omnichannel and integration of online and offline trading platforms
The use of omnichannel strategies has become one of the main trends in retail in the Baltic countries. Brands are actively integrating physical stores with online sales channels, offering shoppers the opportunity to order goods online with home delivery or for pickup. Such solutions enable companies to improve the customer experience, provide greater convenience, and lower barriers to new customers.
2. Innovations in customer service processes: automation and contactless shopping
More and more companies are using automated solutions to improve customer service efficiency. In 2024, contactless shopping is actively developing — from automated stores to shopping through mobile applications that allow transactions without physical contact with the cashier. Such technologies significantly reduce service time, increase the level of comfort and save resources.
3. Artificial Intelligence Technologies and Big Data for Demand Forecasting and Inventory Management
In 2024, the use of technology increases artificial intelligence (AI)and big data analysis for demand forecasting, inventory management, and personalizing marketing strategies. Through the use of AI, retailers can accurately predict demand for certain goods, adapt the assortment and reduce inventory costs, which helps reduce costs and increase profitability.
4th. Eco-friendliness and sustainable development
Increasing attention to sustainable developmentbecomes one of the main factors when making purchase decisions. In 2024, many retailers are actively including environmentally friendly products, energy-saving solutions and waste reduction in their strategies. Consumers are increasingly interested in eco-products, organic products and companies that care about the environment.
5. Delivery automation: drones and autonomous vehicles
Technology development delivery using dronesand autonomous vehiclesis another important trend. In Ukraine and the Baltic States, autonomous robots are beginning to be used for the delivery of products, which helps to reduce logistics costs and reduce the time of delivery of goods to end consumers.
5 innovations and technological solutions in the retail of the Baltic countries in 2024
The Baltic countries have always been distinguished by their openness to new technologies, and retail is no exception. In 2024, a number of innovations have been introduced in Estonia, Latvia and Lithuania that change the approach to shopping and make it more convenient, efficient and environmentally friendly.
1. Contactless shopping technologies
One of the biggest achievements was the widespread introduction of contactless shops. For example, Baltic rhymeimplemented the system “Scan&Go”, which allows customers to independently scan goods through the mobile application and pay for them without cash registers. Similar solutions are implemented and Maxima LTin Lithuania, where pilot projects of fully automated stores have been launched. This greatly reduces shopping time and eliminates queues.
2. Smart Shelves and Inventory Management Systems
Shop automation is becoming a standard. On the net SelvesIn Estonia, smart shelves with sensors monitor the level of stocks, avoiding shortages of goods or their overproduction. In turn, Barborain Lithuania uses IoT technologies to manage warehouses, which minimizes losses due to product delays. These innovations help reduce costs and make inventory management more accurate.
3. Artificial intelligence to personalize purchases
The use of artificial intelligence has become a trend in Baltic retail. For example, Coop Estoniauses AI platforms to analyze customer behavior, creating personalized offers in its loyalty program. A in Narvesenchatbots operate in Latvia to help customers choose products and provide personalized support.
4th. Delivery to order via autonomous vehicles
Autonomous delivery is not the future, but the reality of 2024. Estonian company Clevontests delivery robots to transport products in urban areas. Another Estonian company, Starship Technologies, implements similar solutions in Latvia and Lithuania, ensuring fast and safe delivery of goods.
5. Sustainable development and environmental initiatives
Sustainable development is an important area for Baltic retailers. For example, Twoin Lithuania has launched packaging reuse initiatives, offering discounts to customers with reusable bags. Baltic rhymeis actively working to reduce CO2 emissions by implementing energy-efficient technologies in its stores. Consumers are also increasingly supporting brands that offer eco-friendly products.
Conclusions
The Baltic countries showcase how retail can combine innovation with environmental responsibility, enhancing convenience for customers while preserving the environment. In 2024, these solutions have become not just a trend but an integral part of modern business.
In 2025, we plan to organize a business tour of retail companies in the Baltic countries. This is a unique opportunity to witness the implementation of technologies and innovations firsthand. While there are still available spots, you can join this exciting journey and gain valuable experience to advance your business.
