It depends a lot on the people and the mindset. The speed in digitization is so brutally high and many retailers are left behind behind. That means they need a lot of money to become more digital. And the companies also need to have the right people to bring that expertise too. Another aspect: does the board have a digital strategy? And what USP, i.e. what tech competence do you have as a retailer? An Amazon has set the bar high, especially in terms of supply chain and logistics, completeness of the product range, the targeting accuracy in the customer approach, and a seamless customer experience across all areas. The opportunity is there, but the challenges are great. We are not the better retailers if we have technology at our disposal. Technology itself is not the differentiating factor in the market. That means retailers themselves have to create something new with the technology that’s available which makes them unique. It’s the job of the retailer.

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