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The top digital transformation drivers for retailers over the next two years will be to improve customer experience (CX) and their marketing capabilities. Retailers will also leverage digital technologies to manage their supply chains and improve their operational efficiency. Internet of Things (IoT), augmented reality (AR), and artificial intelligence (AI) exhibit the most promising growth opportunities in this space. COVID-19 has accelerated the move to update online shopping capabilities. Retailers will need to expedite investments in AI, IoT, AR, and CX solutions. Providing customized products and services and personalized customer care will be critical success factors. AI, IoT, and AR facilitate this strategy.This study incorporates the breadth of analysis obtained from Frost & Sullivan research with a customer research to provide our clients with a holistic view of the investments and impact of digital solutions.The first part of this study covers the most recent research conducted by Frost & Sullivan’s Visionary Innovation Group and Customer Experience (CX) Practice. Here you will find the latest insights on the state of the industry, the impact of COVID-19, and predictions for digital retail solutions.The second part of this study covers a detailed survey conducted with end users in the retail industry by Frost & Sullivan’s digital transformation team. This section provides insight on customer perspectives, digital transformation trends, and investment plans.
The overall research objective is to measure the current use and future decision making behavior toward information technology (IT) and telecommunications solutions around the globe, specifically: Enterprise Mobility Management, Digital Commerce, Unified Communications & Collaboration (UCC), Infrastructure and Data Centers, Cloud Communications, Analytics, Digital Marketing Solutions, Customer Experience Management, Cyber Security, Artificial Intelligence (AI) and Machine Learning (ML), Internet of Things (IoT), Blockchain (DLT), and Enterprise Information Management.
Frost & Sullivan aims to:
Author: Alpa Shah
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