Technology to boost store profitability to 3-5% + help retailers fight against labour shortage & salary increases says the @McKinsey report “A transformation in store” – #digitalTransformation #fro…

Brick-and-mortar retail stores need to up their game. Technology could give them significant boost.

Sourced through Scoop.it from: www.mckinsey.com

WHY IT MATTERS: what a difference one year makes! Last year everyone was throwing physical stores under the bus. This year, stores are the savior for retail. I kind of get the point but it comes with huge strings attached as retailers must be willing to transform to digital, embrace new technologies, and change store format (possibly trying more than one). Overall this means huge investments in relatively new and moving technologies that require an infrastructure that is often missing (think secure & high-speed network and wifi in store). Not many of my clients have the appetite or the budget ready to do it. Fun times ahead…

Farid Mheir
farid@mheir.com