This report identifies key demand-side trends in the retail industry that can help enterprises fine-tune their digital strategies. It also provides an overview of enterprise challenges in the retail industry based on Avasant’s assessment.
Why read this Market Insights?
Retail enterprises worldwide are leveraging emerging technologies to provide a personalized and immersive customer experience. They are focusing on enhancing profit margins by utilizing AI to improve operational efficiency and venturing into higher-margin businesses such as retail media networks. Retail businesses are also realizing the significance of social media as a pivotal commerce channel and adopting measures to better connect with audiences there. In addition, increasing regulatory requirements are compelling retailers to integrate sustainability into their core business operations.
The Retail Digital Services 2024 Market Insights™ aids enterprises in the retail sector in identifying important market trends and challenges for any digital project they participate in.
Methodology
The industry insights presented in this report are based on the following: our ongoing interactions with enterprise CXOs and other key executives; targeted discussions with service providers, subject matter experts, and Avasant Fellows; analyst insights from primary and secondary research; and lessons learned from consulting engagements.
Table of contents
About the report (Page 3)
Executive summary (Pages 4–7)
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- Defining retail digital services scope
- Key drivers and enterprise response
- Avasant recognizes 22 top-tier providers supporting the retail industry in digital transformation
Demand-side trends (Pages 8–13)
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- Retailers are enhancing the customer experience using emerging technologies such as AI, analytics, and AR/VR/XR
- Retailers are leveraging AI to enhance operational efficiency and increase operating margins
- Retailers are enhancing their profit margins by exploring different revenue streams
- Increasing regulatory requirements are compelling retailers to integrate sustainability into core business operations
- Retailers are focusing on raising brand awareness on social media by building online communities and leveraging content creators
Key contacts (Page 14)
Read the Research Byte based on this report.
Please refer to Avasant’s Retail Digital Services 2024 RadarView™ for detailed insights on the service providers and supply-side trends.
