Retail sector well on the path towards digital transformation

Digital transformation (DX) in the retail sector is now unstoppable, according to a new study released by Fujitsu.

The company surveyed 197 ICT decision makers from all sizes of retail organisation, across Australia, China, Germany, Japan, Korea, Singapore, Thailand, the UK and the USA.

More than two-thirds saw DX as essential to retail technology, and only 7% disagreed. Finance departments are leading the way, with a mature implementation in place or well under way among 63% of respondents. They are followed by sales (62%), customer service (59%) and frontline retail operations (also 59%).

Richard Clarke, Executive Director, Global Retail at Fujitsu comments: “The retail industry is a lens through which we can see clearly many of the deep changes impacting society and the way we live. The impact of Covid-19 has accelerated retail trends that were already advancing – and are now unstoppable.”

“Our study shows that retailers are responding determinedly to these forces and are well on the path towards digital transformation. The fact that finance teams are leading the way along with sales and customer service reflects the strategic importance to the bottom line of an effective DX implementation.”

The report also shows that artificial intelligence is increasingly important in retail, with 69% regarding it as an opportunity and 66% believing it will result in a better quality of life and allow for the creation of new jobs.

Whilst technologies associated with the Internet of Things have many applications, adoption is still slow, although 69% believe this space will eventually revolutionise retail.