Digital bells and whistles may be sexy, but they're not always savvy.
While most retailers have made forays into the digital realm to better compete, when they invest just to “keep up” in the digital race, their efforts are akin to digital window dressing rather than a core strategic move. Some of the glitziest digital apps—from personal shopping to virtual showrooms—don’t make sense for all retailers.
To remain truly competitive, retailers must instead adopt disruptive technologies across their business—front and back office—and only those that benefit their specific client base. These are the investments that can enable growth, profitability and consumer trust.
Digital window dressers saw a 36% decrease in share price over the past five years.
Customers want consistency but their wants may vary online versus in store.
To keep digital investments strategic, retailers should: