Keeping up with technological innovations is the “greatest challenge faced by retailers” according to new research from Retail Business Technology Expo (RBTE).
The report shows that amongst the 7,500 retail professionals polled, 35% noted staying ahead of the innovation curve as their greatest challenge.
Issues around meeting customer experience was cited by 25% of retailers as the greatest barrier facing their organisations. Driving and retaining customer loyalty (6%) and delivering personalised services for shoppers (6%) also featured in the top five retail challenges.
“Innovation is king in the retail industry - and business leaders must now, more than ever, define and prioritise driving digital transformation into their own strategies, whether through omnichannel customer service, payment options, product access and clever shipping opportunities,” said Matt Bradley, show director at RBTE.
“The evolution of technology within retail is shaping how consumers behave and interact with brands. Technology has become central to retail and continues to shape the future of the sector – and it’s our role to showcase the most innovative, new and exciting retail technology products, services and solutions crucial to the success of modern multichannel retailing.”