I was recently asked to contribute to the 2014 Retail Experts Survey in the United Kingdom, the following is a snippet from the results.
“Retail is always an exciting, dynamic and somewhat challenging space. We have assembled some of the brightest minds in Retail to provide you with their opinions on how technology, e-commerce and social media will change the way Retailers do business in the future…”
Key findings and predictions from our panel:
- Online sales will continue to have a huge impact on how Retailers operate their business. They key is seamlessly blending the in-store and online experiences.
- Cloud technology will allow Retailers to improve operational efficiency, improve the control they have over their business and reduce operating costs.
- Smartphones already allow consumers to have absolute control over the way they purchase products – this will become more prevalent than ever.
- The way that products move into and out of the Retail store will change as cloud technology allows for more reliable and accurate data to be accessed. Lead times will reduce.
- As consumers become less loyal to individual stores, Retailers must engage on a deeper level using multiple social channels to stay connected with their customers.
- Retail is competitive – it’s time for Retailers to take control of their business…and their future success.