Article in Retail Touchpoints
There isn’t an industry today devoid of technology. It has completely revolutionized the ways in which business gets done — from improving personalized customer knowledge through data, to reducing costs and increasing accuracy in supply chains, to using chatbots and other artificial intelligence (AI) to improve customer service.
For the consumer, tech has leveled the playing field — most immediately, from a customer service perspective. Treated unfairly on a flight? Tweet about it. Experience a product fail? Take pictures and email them to customer service. But the extent of retailers’ technological support cannot just emerge when things go wrong. Tech in the retail space must be about making experiences seamless throughout the journey. Perhaps when that happens, we’ll see less volatility in the industry.
While the current narrative largely bewails the “retail apocalypse,” experts should not be so quick to blame e-Commerce, and retailers must shake off psychological bruising from past economic downturns.
If we’re going to point blame for retail woes, we must consider the oversaturation of stores in the U.S. and the fact that, on the whole, stores have not offered the level of engagement customers are seeking.