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Competition is intensifying in the retail sector as consumers’ approach to purchase decisions is evolving.
Digital disruption is forcing retailers to reinvent business models while enhancing operational efficiency and strengthening brand loyalty. Today’s customers expect to be at the centre of retailers’ decision-making with personalised attention both in store and online, 24-hour access through multiple channels, and engagement with their favourite brands via social platforms.
Now, more than ever, the average mid-size retailer is challenged by larger competitors like Amazon that can invest in innovation, but also smaller niche players that are agile and flexible enough to try innovative concepts. Many established retailers are facing cutbacks while, at the other end of the spectrum, indie brands are going global from day one. The current turmoil has emphasised not only the importance of creating a unified customer experience, but also the pivotal role of technology in doing so.
Aligning IT systems and organisational processes to business strategy can make the difference between delivering an engaging and seamless customer experience, and losing brand equity due to operational glitches, inventory management issues, and off-target marketing campaigns.
At Grant Thornton we believe that mid-size retailers should bet on technology as the real differentiator when it comes to creating and delivering a unified client experience. We have brought together industry experts and technology specialists in order to support organisations throughout their entire journey from bricks-and-mortar to omnichannel retail. Our blend of technological acumen and understanding of industry challenges allows our teams to support you in shaping your business, operations, and technology to respond to today’s requirements, and to create tomorrow’s trends.
Find out more about how we assist retailers in designing, implementing and optimising their digital transformation strategies today.