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Retail Digital Transformation

Retail digital transformation is the integration of technology into a retail business to improve operational efficiency and create a better customer experience. This often involves digitizing manual processes, implementing new data analytics and AI solutions and providing a seamless omnichannel shopping experience across physical and virtual touchpoints.

Retailers that do retail digital transformation embrace and implement these technologies will be pushed out of the market by competitors that have built a solid digital foundation. However, digital transformation initiatives can be costly and difficult to manage due to the need for a clear plan of action for each implementation area as well as overcoming resistance to change from employees.

Beyond the Storefront: How AI is Revolutionizing Retail Operations

For example, Dick’s implemented a team to help them create and implement e-commerce applications and has seen the benefits of this in terms of increased revenue. They are now able to list sports products online within 30 minutes of an event like a championship win or player trade, which previously would have taken three to five days. Their team has also created a merchandise search application for employees to quickly find product and location information to make them more efficient in the store.

By leveraging AI and machine learning, retailers can personalize their product offerings to the individual customer to increase engagement and loyalty. This customization can be delivered through web browsing, targeted promotions, in-store interactive experiences or a combination of all three. It requires a comprehensive approach to technology that includes software engineering, data analytics and AI, cloud computing, mobile development and cybersecurity.