Retail Remix · with Ken Fenyo · February 15, 2021 · 35 min
Summary
This episode delves into the accelerated tech adoption in retail post-2020, drawing insights from Retail TouchPoints' Outlook Guide. It covers how COVID-19 influenced 2021 tech spending, identifies key tech trends shaping the industry, and provides guidance on engaging with innovative tech startups to foster innovation. Operators will learn how to strategically evaluate and implement new technologies to enhance customer experience and operational efficiency.
Key takeaways
COVID-19 significantly accelerated retail tech spending and digital transformation, shifting priorities towards e-commerce, contactless solutions, and supply chain resilience.
Key tech trends for retailers include advanced omnichannel strategies, personalization via AI/ML and CDPs, and leveraging AR/VR for immersive customer experiences.
To foster innovation, retailers should actively identify, evaluate, and partner with tech startups, focusing on their potential to drive specific business outcomes and customer value.
Strategic technology investments should prioritize solutions that enhance customer engagement, optimize operations, and provide actionable data for informed decision-making.
Retailers are advised to integrate AI and data analytics across all operations for improved personalization, inventory management, and overall operational efficiency.
The Outlook Guide has been an editorial mainstay for Retail TouchPoints for nearly a decade. Every year, the editorial team gets fascinating takes from experts and analysts on the trends they believe will dominate in the year ahead. But this year’s guide was especially interesting to curate, given the great acceleration of trends we witnessed in 2020. During this special episode of the Retail Remix podcast, Alicia sits down with editor Adam Blair to discuss the latest iteration of the Outlook Guide and specifically, the trends we’ve seen evolve over time. We also catch up with Ken Fenyo of Coresight Research, who contributed to the Outlook Guide, to ask some follow-up questions about his column. Listen in to learn: How COVID-19 will influence 2021 tech spending; Tech trends that will influence the industry moving forward; and Ways to find and engage with the right tech startups to support innovation. RELATED LINKS Dig in to Retail TouchPoints’ 2021 Outlook Guide Learn more about Coresight Research]]>
What does this episode say about retail & omnichannel?
COVID-19 significantly accelerated retail tech spending and digital transformation, shifting priorities towards e-commerce, contactless solutions, and supply chain resilience.
What does this episode say about ai & automation?
Key tech trends for retailers include advanced omnichannel strategies, personalization via AI/ML and CDPs, and leveraging AR/VR for immersive customer experiences.
What does this episode say about supply chain & operations?
To foster innovation, retailers should actively identify, evaluate, and partner with tech startups, focusing on their potential to drive specific business outcomes and customer value.
What does this episode say about brand & content?
Strategic technology investments should prioritize solutions that enhance customer engagement, optimize operations, and provide actionable data for informed decision-making.
What does this episode say about retail & omnichannel?
Retailers are advised to integrate AI and data analytics across all operations for improved personalization, inventory management, and overall operational efficiency.
