It’s no secret that the retail market is undergoing fundamental changes, right? Exactly, and as the rise of eCommerce changes how we shop, many retailers are struggling to keep up with new challenges. Buying behaviors are evolving faster than ever before with consumers looking for flexibility in how they purchase and receive products.
The retail evolution has arrived.
Blue Yonder, a JDA company, and Microsoft recently surveyed retailers around the globe on how they are adapting to the quickly evolving market using new technologies, and some of the results may surprise you. Research revealed that as retailers face challenges with shifts in customer loyalty and eCommerce competition, they are focused on investing in new technologies to remain relevant and competitive.
Even while retailers reported that core processes like replenishment and pricing are usually operated via manual intervention, they recognize the need for automation to improve customer experience, profitability and efficiency.
Retailers are committed to remaining relevant in the digital age. The majority of respondents shared that they are maintaining or increasing their physical store presence. They are also committed to innovation — investing IT budgets in new technologies to support them in meeting consumer demand and providing meaningful, personalized customer experiences.
Read the report for all the details.
Ready to learn how brick and mortar retailers can compete with eCommerce? Learn how retailers can compete with eCommerce and why they can face major risks without leveraging artificial intelligence (AI) and automation.