Trends and challenges

1. Rethink Consumer Engagement

The pervasiveness of technology be it smartphones, wearables, sensors or augmented reality has resulted in today’s consumer being more connected than ever. This level of connectedness means a retailer could have more access and a more immersive engagement with customers, if executed correctly.

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2. Rethink Supply Chain

Differentiating through localized assortments and an omni channel experience will necessitate a more flexible and nimble supply chain. Retailers need to rethink their sourcing and distribution landscape for the last mile fulfilment and returns. All these need to be done in an environment where the existing technology landscape does not support it.

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3. Rethink Decision Making

Retailers today have access to tremendous amount of data. However, making sense of this data and more importantly leveraging it in the process to realize value is a huge opportunity. However there are some fundamental challenges:

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4. Rethink Business Architecture

Every aspect of retail business is seeing a significant disruption. Retailers need to respond to these disruptions in an agile manner. This necessitates a fundamental rethink and adoption new business operating models, new processes, ways of working and of course, technologies. Innovating on all these fronts while delivering value in the short term is a tough challenge.

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