Digital Transformation in Retail - 13 Action Steps
The behaviors and expectations of today’s consumers are rapidly evolving under the influence of digital and mobile technologies; as a result, retail growth and profits are quickly shifting to digital commerce. These changes require retail industry decision makers to acquire real-time situational awareness, new digital strategies and a digital mindset around business transformation. Retailers must recognize and act proactively when customers, competitors and markets change by deploying the appropriate digital strategies and technologies in the right sequence to maximize returns and competitive advantage. We encourage retail executives to understand and follow these 13 actions: Recognize the need for digital transformation extends beyond websites and mobile apps to the entire organization and across all business processes. Understand the degree of change occurring in retail as a result of customers’ fast-changing behaviors. Judge accurately where your organization stands on a d