The pandemic has significantly affected the global retail industry. Trends such as home delivery, pick-up options, and conscious buying are accelerating. This opens up new opportunities for digital leaders; it also increases the challenges for those lagging behind. While retailers have initiated their transformation efforts, the 2020 CGI Client Global Insights reveal the results are not rapid enough.
As the pace of change speeds up, we believe it has never been more crucial for retail organizations to understand customer expectations for best price, convenience, and product and service value to build resilience, increase agility, and reduce costs to fund transformation.
Depending on their digital maturity, retail organizations must look to prioritize the right levers to survive and thrive, including:
- Strengthening product offering, pricing and assortment strategies
- Improving customer convenience
- Enhancing agility from end-to-end and reducing costs
In this paper, we offer insights and recommendations for retail organizations to create differentiated value faster through relevant innovation, agility and cost reduction.
