Retail Success Depends on Successful Omnichannel Execution, Says IT Consulting Firm Info-Tech Research Group

TORONTO, November 9, 2022 /PRNewswire/ – With the holiday shopping season fast approaching, global IT research and consulting firm Info-Tech Research Group has released its new master plan, The retail store of the future. The data-driven research is designed to help business leaders and IT managers identify and capitalize on the customer journey to purchase across the Internet of Things (IoT), store technology, infrastructure and environments; monetize key customer information; and turn yourself into a “Smart Store Hub”.

“Over the past two years, retailers have taken significant steps to configure their stores to seamlessly fulfill e-commerce orders,” said Rahul Jaiswalsenior research director at Info-Tech Research Group. “The main reason for this transformation is the growing demand for easier shopping and faster delivery. Retailers are working to meet these changing needs by reconfiguring technology from online to offline, training staff to new responsibilities and perfecting curbside pickup services to be competitive.”

With shoppers using technology across multiple channels to complete their purchases, executing a unified in-store and hybrid customer experience is crucial for retailers to drive value in today’s highly competitive marketplace. It’s called ‘omnichannel’, which means increasing the adoption of technology tools and processes across all aspects of an organization. It brings businesses closer to customers by understanding their needs.

“The store function is no longer just a channel to display and sell products”, adds Jaiswal. “Retail environments now offer an opportunity to play a much greater role in promoting the brand, driving innovation, fulfilling orders, and much more. The retail store of the future offers an all-in-one connected experience to be transformed into a ‘Smart Store’ Center.'”

Info-Tech suggests organizations take three steps to capitalize on infrastructure technology and prepare for the future:

  1. Assess infrastructure integration.

    Retailers need to ensure the right infrastructure is in place to support the technologies. Too many retailers struggle to integrate new and emerging technologies into existing infrastructure, which worsens the customer experience. Often the best decision is to upgrade the entire system to pave the way for the future.

  2. Review service-oriented support models.

    Software and infrastructure technologies must be continuously adapted to keep up with new technological developments. Associations between retailers and technology partners need to shift from transactional payouts to service-focused support.

  3. Develop a holistic strategy.

    Retailers should reconsider all technologies when planning benefit creators. For example, many companies do not recognize augmented reality (AR) or virtual reality (VR) as vital to their business. However, interest in these areas is accelerating rapidly as web 3.0, digital currencies, non-fungible tokens (NFT) and the metaverse create new prospects for value creation.

Info-Tech also recommends keeping eight best practices in mind as retailers streamline infrastructure and reap the benefits of real-time information:

  1. One size doesn’t always fit all.
  2. Too much complexity leads to waste.
  3. Deployment requires a significant investment of time and capital.
  4. Costs are difficult to predict.
  5. Security must be strong – be prepared for ransomware.
  6. Back up frequently.
  7. Manage and support monitoring services.
  8. Invest in IT capacity at remote sites.

For more information on the three key steps and eight recommended best practices, download the Retail store of the future plan.

To learn more about Info-Tech Research Group and to download the latest research, visit infotech.com and log in via LinkedIn and Twitter.

About the Info-Tech Research Group

Info-Tech Research Group is one of the world’s leading information technology research and consulting companies, proudly serving more than 30,000 IT professionals. The company produces unbiased and highly relevant research to help CIOs and IT managers make strategic, timely and well-informed decisions. For 25 years, Info-Tech has worked closely with IT teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.

Media professionals can sign up for unlimited access to IT, HR and software research and more than 200 IT and industry analysts through the ITRG Media Insiders program. To access it, contact [email protected].

SOURCE Info-Tech Research Group

About Catherine Sturm

Check Also

Black Friday LG OLED TV Deals 2022 Watched by Retail Fuse

BOSTON–(BUSINESS WIRE)–Black Friday researchers are tracking all the latest LG OLED TV deals for Black …