Article

Insights into digital trends and changes in retail

Understanding the value and power of digital transformation

Aug 11, 2020
#
Retail

In today’s highly competitive retail environment, successfully leveraging a digital strategy is as important as honing a strong brand or deeply understanding consumer preferences. Digital strategies can help engage, assess and predict key operations, and transform a business. Those retailers that optimally harness technology and data are top shop in this dynamic sector.

To gauge the transformative impact of a variety of digital methods and strategies within the retail sector, RSM surveyed executives late last year as part of a broader study that looked at digital transformation across multiple industries. While findings were compiled before the coronavirus pandemic, much of the analysis and insights can be applied today as the industry adapts to and learns from the COVID-19 pandemic. 

What we’ve seen through the pandemic is the importance of digital strategies, whether it’s to address consumers’ changing needs, workforce dynamics or supply chain. While many of these conditions and opportunities existed before the pandemic, they have only been intensified during the crisis; and as companies make post-COVID-19 decisions and adjustments, a strong digital strategy is even more essential.
John Nicolopoulos,  RSM national retail and restaurant sector leader

The goal of RSM’s Retail Digital Transformation Survey Report is to provide organizations ideas and opportunities for improvement, evaluate ongoing digital strategies and provide comparison analysis of peer groups. 

RSM contributors

Subscribe to Consumer Business Insights

Get timely information about the consumer goods, food and beverage, retail and restaurant industries delivered to your inbox. Select your RSM newsletter preferences today.