Recent retail innovations have caused significant disruptions in shopper expectations. Thanks to unprecedent technology deployment, customers place more value in the experience retailers offer than the product or service itself. Technological advances have raised the bar; people expect optimal convenience and efficiency from their shopping experience. To remain competitive in the market, retailers need to shift their current business models and technology to accommodate these expectations.
While a majority of retailers know they must become more innovative and transform how they leverage technology to improve both their operations and customer experience, they must weigh the risks associated with this change. Few companies have the resources or margins to experiment and run failed pilots. Some companies simply don’t know where to begin or even what technologies to adopt.