Digital transformation in retail refers to digital technologies for the new business model in order to enhance customer experience and improved revenue streams. Further, it provides collaboration between multiple levels such as technologies, staff, and processes for the smooth operational process. Retail industry gradually shifting towards app and web-based services which offer an interactive user experience. Technological development to enhance retail operations with AI, cloud-based services and big data analytics expected to drive the digital transformation in the retail industry.This growth is primarily driven by Rising Application of AI and Cloud-Based Technology in Retail Industry, Increasing Usage of Social Media and Digital Marketing for Improved Promotional Strategy and Emphasizing on Innovative Mobile Logistics System.
Globally, a noticeable market trend is evident Retailers Focusing on Personalized Promotions over Mobile Devices
. Major Vendors, such as IBM (United States), Microsoft (United States), Amazon Web Services (United States), Oracle (United States), SAP (Germany), Intel (United States), NVIDIA (United States), Google (United States), Sentient technologies (United States), Salesforce (United States), EBay Inc. (United States), Flipkart Inc. (Singapore), Snapdeal.com (India) and Tesco Pvt. Ltd (United Kingdom) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
11 November 2018, According to the survey held by National Retail Federation (NRF) 67% of Generation Z shoppers prefer offline retail store over online stores. This concludes offline retailers are also gaining significant market share owing to digital transformation in the retail sector.
- Rising Application of AI and Cloud-Based Technology in Retail Industry
- Increasing Usage of Social Media and Digital Marketing for Improved Promotional Strategy
- Emphasizing on Innovative Mobile Logistics System
- Retailers Focusing on Personalized Promotions over Mobile Devices
- Growing Adoption of Digital Signages and kiosk among Off-line Retailers
- Lack of Skilled Workforce to Adopt New Technologies
Rising Demand of Cloud-Based Technology in Inventory and Supply Chain Management
Difficulty in Integration of Application through an Application Program Interface (API)
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Digital Transformation In Retail Study Sheds Light on
The Digital Transformation In Retail Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Digital Transformation In Retail industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Digital Transformation In Retail industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.