AI in Retail
The Retail Industry is a dynamic sector requiring a careful combination of creativity, business theory, skilled practice, complemented by technology to create value for customers. Explore the opportunities to unleash the full potential of your data in the retail sector
The Retail Challenge
Value-creating functions of the retail sector are providing an assortment of products and services, breaking bulk, holding inventory and providing services. In addition, the industry is undergoing rapid change: customers scrutinise retailers today under a new set of value standards, including social responsibility, environmental impact, workplace safety and diversity, and the forces of globalisation and trade. Digital disruption continues to influence the retail sector significantly - Amazon is a symbol of this threat to the incumbents.
The challenge for retailers is responding to the economic, technological, and customer disruptions with a sound retail management strategy. E-commerce is the one getting the most media coverage. However, technology and online customer behavior are not a threat to retail but should be a part of the strategy, so the economic and technological trends from e-commerce still are a driver for the need to innovate in the retail sector.
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