Uncertain future for retailers as businesses fail to invest in digital
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In an already turbulent time for the high street, swathes of the retail sector are ignoring the need to focus on digital technology, despite consumers increasingly shopping online, according to research.
A survey of 100 top retailers found more than one-third of businesses have no strategy in place to address developments such as a rapid consumer shift to e-commerce, which have upended the industry in recent years.
Moreover, one-in-five have not invested anything in the last 12 months in developing the digital side of their business.
Sam Rutley, managing director of Pushon, which carried out the research, said: “Despite the the rise of e-commerce and growing demand for omnichannel retailing over the past few years, it seems that a large number of retailers are still ignoring the need to implement a digital transformation strategy.
“Doing so will be crucial when it comes to keeping up with rapidly changing consumer demands, with shoppers’ expectations now higher than ever before, thanks to the rise of Amazon and other e-commerce trailblazers.
“While it’s reassuring to see that 65 per cent of retailers have given the issue some thought, the results of the survey make it clear that customers are still feeling disappointed with the lack of progress made by many businesses, showing that more needs to be done – and fast.”
Main image: Getty