Is technology clouding retailers vision?

Is technology clouding retailers vision?

How are retailers balancing the dual aim of investing in technology to improve their customer proposition while ensuring smooth-running business operations through an aligned corporate and IT strategy?

The business world has become fixated on having the latest technology, tools and systems, believing they are required to win customers and navigate their way through a time of constant change and economic uncertainty.

And, whereas some organisations in the retail sector have been empowered- others have been left behind in a state of technological entanglement as they come to terms with the new digital world.

The big question is, how do you choose what to invest in?

As competition for customer spend intensifies and pressure on margins continues to grow, many retailers face the battle between needing to improve the alignment of technology investments to business strategy, whilst on the other hand needing to face up to the hurdles presented by disparate, legacy systems in need of renewal.

We have spoken to key members of the retail industry to uncover pain points around IT investment and to learn about the challenges they face in terms of disparate systems and misalignment. Our recent report discusses techniques they’ve adopted during this era of digital transformation and how they’ve developed a strategy which is aligned with and focused on business needs.

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Agile in a new world

Searchlight Consulting has worked on projects with a wide range of retail and hospitality companies, such as Fat Face, Wiggle and Costa Coffee, to help them navigate their way through this challenging landscape.

Different ways of thinking are needed, and they will take time to manifest themselves in organisations that have been operating very similar structures for decades. Stakeholders in a retail business need to have more realistic expectations and to think longer term.

Digital transformation can empower as much as it can engulf retail and hospitality organisations. And importantly, there are multiple sources of inspiration and guidance to help drive the industry in the right direction.

Lydia KirbyIs technology clouding retailers vision?