Physical retail must adapt to intensifying competition from ecommerce. Every physical retail incumbent feeling heat from Amazon recognizes the need to better compete with digital’s informational and convenience advantages. But they must do so without losing the experiential edge offered by brick-and-mortar.
Retailers must now navigate the complexity of investing in expensive—and sometimes risky—technologies. Retailers digitizing stores face significant hurdles, with capital expenditure requirements topping the list, per a July 2022 Retail Systems Research (RSR) study. They’re also wary of adding complexity—which can be disruptive to CX—and uncertain ROI.
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