To succeed in the digital business era, retailers have to stretch their boundaries. This requires rethinking their business model, deciding how to transform into digital businesses and making the right technology investments to become digital leaders.
The Accenture Technology Vision for Retail examines the technologies that will have an impact on retailers over the next three to five years.
Outcome Economy—Use Internet of Things to facilitate a more seamless retail experience in the store, across the home, and into the lifestyle through integrated products and services. These connected devices can provide valuable insights into what customers truly want.
Platform (R)evolution—Strive to become digital platform providers, facilitate data flow and system access to select business partners, and reinforce both core and digital platforms to participate in a larger ecosystem and unlock new revenue streams.
Intelligent Enterprise—Make pervasive use of data to deliver a loop of continuous, relevant connections to each shopper before, during and after purchases. Adopt innovation pricing and promotion models to build customer loyalty and increase cart size.
Workforce Reimagined—Facilitate the next generation of customer self-service, use technology devices to augment staff efficiency, and automate the supply chain with robotics and drones to improve customer experience while cutting costs.