In today's cut-throat competition, the retailers' pressure is to deliver an intelligent, friction-free, data-driven user experience to meet individual customer needs.
Digital transformation in retail fits the bill in order to enhance customer experience that drives the overall company growth.
It enables retailers to embrace digital technology to ensure fast and secure services. Hence, it will meet the constantly changing demands of the customers.
How are retailers evolving with digital technology? How's it impacting their business? Let's find the answer.
What is Digital Transformation in Retail?
This refers to incorporating digital technologies into every aspect of a retail business. From inventory management to customer service, digital transformation infuses its power to foster the efficacy of mobile apps, e-commerce platforms, social media, and other digital tools.
According to Statista, investments and funding of 100 billion U.S. dollars went into the retail sector in 2021, which suffices the objective of providing a seamless shopping experience. Consequently, digital transformation helps retailers with insights and data to make informed decisions.