Over the past two years, due to the global Covid-19 pandemic and, more recently, the economic tensions associated with the invasion of Ukraine, retail has faced a highly volatile environment, both in its supply chain and inventory management and in the emergence of new customer expectations.
While some relevant business and technology investments were made before and during the pandemic by the best players in modern retail, and are only just being integrated, customer experience and business agility have since become the key competitive differentiators.
Retailers must refocus on margin and operational performance indicators, but also on concrete actions to be implemented to meet the growing expectations of consumers regarding environmental, social and corporate responsibility (ESG).
As a result, retailers must continue their digital transformation strategies to deliver a unified retail experience. These changes can guarantee that they remain agile enough to adapt to ever-changing market conditions, while increasing both productivity and visibility. Consequently, areas previously considered “untouchable” must now be thoroughly reinvestigated, like merchandising or empowering frontline-store employees.
These are some of the conclusions in the recent Gartner report, “Top Trends in Retail Digital Transformation and Innovation for 2022”…