Despite the emergence of exciting new tools like virtual reality and artificial intelligence, sometimes its important to go back to basics.
Improving your retail strategy could be as simple as connecting more closely with consumers and using technology more efficiently.
Thats the takeaway message from the inaugural State of Technology in Retail report, released on Tuesday morning by the product decision platform MakerSights.
The survey found that for 43 percent of retail respondents, understanding customer preferences is still their biggest challenge when bringing new product to market, beating out inventory management and retail pricing. Forty-one percent also reported that acquiring and retaining customers was the most pressing challenge in retail as a whole.
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