Many retailers unprepared for digital future, PushON
A significant number of UK retailers are not actively preparing for the future, with 35% admitting to having no business transformation strategy in place for the rise of digital technology and changing consumer habits, according to research by PushON.
Its survey of 100 retailers found that 20% have not invested anything in developing the digital side of their business in the past year. Of those that do have a strategy in place, only 27% said that they are currently progressing well with their transformation. The research also found that just 26% of retailers believe that such projects are crucial for them to survive in an increasingly competitive market.
PushON also surveyed 1,000 consumers to establish whether retailers are investing in the digital developments that they really want. 77.1% said that they don’t think the majority of retailers are doing enough in this area.
“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,” says Sam Rutley, Managing Director at PushON.
He adds: “While it’s reassuring to see that 65% 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.”