Insights into digital trends and changes in retail
Understanding the value and power of digital transformation
SPECIAL REPORT |
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,” says John Nicolopoulos, RSM’s national retail and restaurant sector leader, “a strong digital strategy is even more essential.”
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.
Download the full report for more.
For related insights, check out the following:
From new technologies to supply chain implications, retailers should consider new technologies, supply chain implications and more.
Digital tools like artificial intelligence, digital analytics and machine learning minimize repetitive manual tasks and streamline systems.
Strong consumer spending is expected with the last six months of the year fueled by the American Rescue Plan.
Learn how digital transformation enhances your business with employee engagement, operational efficiency and enhanced customer experience.