Connected retailers surge ahead, new research

Retailers who do not provide unique and digitally connected customer experiences, are falling behind competitors, according to a new study conducted by Wipro and Planet Retail. Eighty two per cent of the retailers interviewed agreed that investments in digital technology and operational improvements would help them target customers as individuals, with hyper-personalised offers and promotions. Only 18 per cent said they were “extremely happy” with their current ability to target customers based on their habits and preferences.

The report surveyed 300+ senior executives at retailers with global operations, and with annual revenues of $750 million or more. The executives based in Canada, France, Germany, the UK and the US represented a mix of brick and mortar and online retailers. Srini Pallia, chief executive, Consumer Business Unit, Wipro Limited said, “The research clearly highlights that, while retailers have embarked on their digital journey, much remains to be accomplished to support more meaningful engagement with the consumer. Further, consumers entering the store today are painfully aware of the obvious divide between the physical and digital worlds."

The report, titled 'The Era of the Individual: Unleashing the Power of ME', can be downloaded at: www.wipro.com/industries/retail/insights/research/

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