Transforming Store Fleet through Technology
In today’s changing retail landscape, it can be tempting to invest in smart screens or augmented and virtual reality devices. However, these shimmering new items do not always address the customer’s needs. We have seen many retailers take the wrong road and invest in technology that their customers hardly use. Some retailers are on the right track. In addition, you can be, too.
Key findings of Deloitte Connected Stores report:
- Re-invent the store from first principles. Consumer lifestyles have changed dramatically and are continuing to change rapidly. Start from a blank canvas with first principles and understand how your store can play a significant role in the lives of your customer in the coming few years.
- Tech-charge your organization. Ensure that your organization becomes more capable with technology and understands how to foster innovation and integrate into the start-up scene.
- Consider the store concept from multiple angles. Define the way you associate, select, prioritize the right technology for your store and use a data-driven approach to inform your decisions around the products you put on shelf.
- Connect your stores and turn data into action. Data-driven decision-making enables faster and better-informed decision-making. Make sure you capture data and build the analytics capability to generate insights from which you can act.
- Apply Lean-Start-up thinking to create transformational store concepts. Increase speed in experimentation and implement disciplined tests to develop robust insights on what does and does not work.