The word ‘disruption’ certainly causes concern for those running established businesses. Yet if we put aside fear of uncertainty, we find digital ‘disruption’ brings with it far-increased business opportunities. Rather than abandoning original business principles, companies can use technology to build on them, bringing core values and past successes to the world’s digital economy stage.
Retail is not just another legacy 20th Century market sector succumbing to mobile- and web-based transactions. According to a 2017 Accenture report, “Painting the Digital Future of Retail and Consumer Goods Companies,” retail is undergoing massive digital transformation, blending e-commerce, big data analytics, Internet of Things (IoT), and the cloud to deliver an omnichannel customer experience unmatched by online shopping alone
Technology has had an enormous impact on the retail sector – not only supporting the rise of online stores, but also in enhancing the operations of traditional bricks and mortar retailers. In today’s ever-changing retail world, many stores are realizing that the best way to keep pace with evolving consumer demands is to deliver a customer experience built for the digital age.
An interconnection-first IT architecture designed for the digital edge gives retailers speed, unprecedented command over reams of consumer data, and the flexibility to instantly reach partners and markets globally. This is how they can grab the attention of shoppers who now have a world of alternatives at their fingertips.
Like all industry sectors, retail is undergoing a dramatic transformation. It started years ago with the emergence of what we then called e-commerce, and the trend is now accelerating with massive disruption in the way consumers are shopping. It’s requiring traditional retailers to adapt to digital and pure internet players to connect with physical stores.