In this whitepaper, we will discuss how prioritizing retail personalization solutions, marketing, and utilizing data can help retailers engage existing customers and target high-value customers to shape the future of the industry.
The global retail market is worth $6.310 trillion and employs approximately 1.8 billion people. With 3.2 billion online shoppers worldwide, the industry is undergoing significant change due to rapid technological advancements and is estimated to reach $8 trillion by 2026. Customers today expect seamless shopping experiences, hyper-personalization solutions, and exceptional customer support. And this is where traditional brick-and-mortar stores face tough competition.
Failure to meet these expectations can harm businesses leading to a decline in ROI. Digital transformation in retail is crucial for driving revenue, streamlining operations, enhancing customer service, and boosting efficiency. This means using AI, big data, and IoT to create personalized shopping experiences that truly captivate customers.
