Though AR has been around for a while it is now gaining maturity with several retailers embracing the trend. Here you can change your Privacy preferences. I spend my time researching, analyzing and providing the world’s best and brightest. A hands-on visionary and a technology leader, Chithrai Selvakumar Mani has been instrumental in driving innovation and transformation to shape the digital future of multiple Fortune 500 companies and industries. Digital Transformation (DX) is a global phenomenon across many industry sectors. With the emergence of the digital price tags the physical strain on retail teams has come down significantly. In his 20 years of experience, he has earned the special ability to efficiently decode and address the resource needs of our clients. But Amazon’s recent shift to free one-day shipping shows that they’re getting even less patient. Retail organizations have never had an issue collecting lots of data, … Being future-ready is a natural progression of his core belief in ‘Technology as an Enabler’. … 1. Now, Now, Now. Though he holds a master’s degree in Computer Science from Oklahoma State University, USA he understands the pulse of industries across the board. That’s why technologies like visual search and social shopping are going to skyrocket. Nissan, a popular automobile brand has introduced the option for buyers to select engine model, interior and exterior vehicle color, and so on. Today, he is our Vice President of Global Sourcing, managing requisitions of high visibility roles. The savviest retailers will be gathering that information from endless sources like social media to IoT sensors and using AI and deep learning to make the shopping experience as easy and personalized as possible. Instead of viewing a screen in front of them, users are immersed in the scene and interact with 3D worlds. One example of this is … Retailers such as Dunkin Donuts, 1-800 Flowers, Dominos and Starbucks have created Skills for Amazon’s Alexa that let consumers order items on Echo and other Amazon based devices. Top Enterprise Collaboration Trends In A Post-Covid World, On Verizon And Gen-Z: How To Walk The Walk With Younger Consumers, Hackers Don’t Even Have To Hack Users Who Voluntarily Download Apps And Browser Extensions, Chico’s utilization of SAS for advanced retail analytics. Even as a young entrepreneur, he was a passionate technology enthusiast with strong business acumen and an eye for the future. Digital transformation trends in retail are going beyond a single technology, entailing a complete overhaul of the retail ecosystem – from staff and technologies to processes and suppliers. Quite a few clothing brands such as Uniqlo, Lacoste and American Apparel have opened virtual showrooms and fitting rooms to allow customers to try on their outfits in virtual spaces. Vic Gandikota specializes in solving the sourcing and staffing concerns for global companies. After completing her graduation from The University of North Texas, USA she dove deep into the world of operations management and business development. This, in turn, helps enrich the quality of strategic decisions leading to business transformation for brands. Today’s consumers don’t just want their products fast, they want to be able to get information about them quickly. New research, believed to the first survey of this scope and size to be conducted globally, reveals almost every aspect of current and future ICT … It’s safe to say that the retail industry is among the industries that are most affected by digital business transformation for several reasons as they shift towards more service-oriented models, with many … We can see from the rise of apps like Instacart and Shipt that people are drawn not just to the convenience of grocery delivery, but the ability to get what we need in two hours or less. For instance, a newly engaged woman may try on her wedding gown virtually, and see herself walking through one of many possible wedding locations. Indeed, while e-tail will hit $5 billion in value by 2021, it is estimated that 25% of purchased items are sent back. Yes, in 2020 we will also continue to see smaller stores work to compete for a piece of the pie against Amazon, which is crushing the market. Define your Privacy Preferences and/or agree to our use of cookies. Walmart has been leading the pack in terms of digital transformation in the retail industry. Yes, those technologies are still percolating and will likely continue to mature in the coming year. Product customization combines different forms of on-demand manufacturing technology to meet the need for personalized shopping experiences of customers. They want to go to your website and be able to compare prices, styles, delivery dates, see your recommendations of things they may like even more--preferably all on one screen. But these new technologies and strategies, when used effectively, may be enough to win a bigger piece of the retail pie and e-commerce pie. Moving The Things That Move The World Forward In The Pandemic, CTV Fraud Made Headlines Again, But It Shouldn’t Have. Augmented reality could mean retailers keep more of their sales because consumers more fully understand what they’re buying at point of purchase. 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