Trends in Retail: A Look Back—and Ahead

Every day, we sit at our computers and read the constant flow of headlines that cross the wires. In our meetings, we hear about our competitors, from what they are working on to how they are getting it done.

It is these stories that drive organizations to innovate and perform better. It is these conversations that create change, build great customer experiences, and forge lasting relationships.

In this collection, we look at key trends in the retail industry and offer specific insights into:

• Market Forces
• Digital Experience
• Business Optimization
• Emerging Technologies

Below are a few key trends in the retail industry:

• By enabling large-scale consolidation and reducing the physical IT footprint, retailers can benefit from a more efficient infrastructure that naturally drives efficiencies within the store. Retail Customer Experience
• Approximately 49% of leaders at retail and wholesale firms reported that leveraging big data and analytics across the enterprise to improve customer experiences and service is critical. Forrester
• Approximately 70% of global business and technology decision makers at retail and wholesale firms say that improving customer experience is a top business priority in the next year. Forrester
• A new forecast from Juniper Research projects that revenues generated by IoT retail platforms worldwide will rise to at least $4.3 billion by 2023. eMarketer
• Approximately 70% of retailers have the data they need to provide personalization in three or more systems, but without a properly structured AI-driven personalization program, they are unable to utilize the data to satisfy their customers best. Martech Advisor
• Cloud technologies upgrade the way organizations manage customer engagement by giving them a centralized platform to connect anywhere, anytime. Cloud computing also maximizes the consumerization and distribution of web-enabled devices, allowing customers and contact center representatives to communicate, collaborate, and connect more effectively. Retail Customer Experience

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It’s hoped that the trends and statistics presented will inspire and motivate you on your quest to become or remain an industry leader.

You can download the retail trends guide below.