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Chapter 1
It's time to
transform
Welcome to the dawn of digital transformation.
We are witnessing the most dramatic shift in
consumer shopping behaviors, preferences, and
expectations the retail industry has ever seen. The
dawn of the digital transformation economy is poised
to radically reshape the way companies do business,
which means it's no longer an option for retailers to
digitally transform. It's a survival imperative.
To succeed in this new economy, businesses
must create a unified strategy, across every
channel, to develop and optimize compelling
digital transformation experiences. And because
emerging trends are also driving many internal
changes—including workforce productivity and
store operations—a successful digital transformation
must include strategic investments in agile,
dynamic technologies that extend across every
area of the business.
According to research firm IDC, over the
next three years, changes in customer
expectations will be one of the top drivers of
industry transformation.
• Retailers will succeed or fail based on their
ability to meet—and exceed—demanding
performance benchmarks.
• These benchmarks are driven by increasing
demand for improved customer experiences
enabled by emerging technologies.
• Digital transformation can no longer be limited
to proofs of concept or one-off projects;
instead, they will become core retail operations.
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The retail perception
of digital transformation
78%
50%
91%
of executives
say that digital
transformation will be critical
within two years.
1
of top-performing
retail brands are more
likely than others to use
analytics when managing
store-level activities.
3
9 out of 10
companies
compete primarily on
customer experience.
2
of employees
believe that digital
capabilities can
fundamentally transform
how they work.
4
1
MIT and Capgemini
2
Gartner
3
Aberdeen
4
MIT and Deloitte
