Digital transformation is a necessary yet often arduous process. Even with buy-ins from key decision-makers and investments in the right solutions, implementing sweeping changes across entire organizations often takes time and even greater effort. However, in the case of the retail industry, the change recently took a quantum leap.
From alternative payments to omnichannel shopping experiences, the retail industry has experienced major digital disruptions in recent times. With consumers spending more online, retailers must go beyond passively reacting to the latest trends and adopting silo technologies.
Instead, the modern retailer must strategize their digital transformation plan and commit to a consumer-first approach to meet demands and sustain continuous business growth. Only with an excellent customer experience will they sharpen their competitive edge in the face of unprecedented acceleration of e-commerce.
To gain a better perspective of the incoming e-commerce wave, here is an overview of the massive growth retailers can expect in the coming years.