The Wind of Change – Megatrends in the Retail Industry
"When the winds of change blow, some build walls, others windmills." A Chinese wisdom that is more relevant than ever in the digital age and especially in Corona times. Any retailer today who does not continuously work to become better will stop being good tomorrow and may be gone from the market the day after tomorrow.
Megatrends in this context are the first gusts of wind that announce the direction from which the next storm will come. In the following we will discuss four of the gusts of wind to which the retailers of tomorrow should be sensitized:
1. Unified Data
Expenditure on artificial intelligence (AI) in the retail sector is rising steadily and immensely. The topic of "extended data analysis" is also becoming increasingly important in order to be able to fine-tune one's own business. However, the basis for all this is a uniform database. Even AI cannot turn bad input into good output.
2. Customer Experience is everything
Technological innovations change customer demands. Mobile POS, Augmented Reality, Cashier-less Checkouts, Chatbots, Frictionless commerce or interactive Screens are standards of tomorrow and already today a decisive competitive advantage due to the associated personalization possibilities and convenience that is created in the customer experience.
3. Retailers are experimenting
Pop-ups, D2C offers or zero inventory stores are new formats that rethink or rethink the basic idea of retail. Such as Retail as a Service (RaaS), which enables a physical product experience, local availability and direct customer contact.
4. Supply Chain & Operations make the difference
Whether it's geopolitical changes, pandemics, cyber risks or new regulations, the only constant in the global digital world is and remains change. With Dynamics, we help you streamline your operations, streamline processes and smooth supply chains to be more agile, cost effective and proactive in responding to new customer needs, market opportunities and risks.
Sycor – Your partner
The wind of change is blowing and the megatrends are slowly but inexorably approaching us. We not only know the difference between walls and windmills, we are excellent builders who also always keep an eye on the wind direction. On the process and technology level, we are your contact and will be happy to accompany you and your business into a successful future!
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