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Retail Strategy
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Digital transformation is the idea that businesses should utilize new technologies and business models to motivate their employees to be more productive and to provide value for customers.
This digitization of retail has been growing for many years now, but the recent volatility of the landscape has caused consistent velocity to turn into acceleration. While still part of the equation, e-commerce is no longer the only focal point in this evolution; omni-channel shopping and delivery, increased online marketing, machine learning and augmented reality are just some of the ways a retailer can keep up in 2021. While the technology is exciting, changes must first start at strategy level and ensure adoption by all stakeholders.Change management is key.
Chances are that retail looks a lot different today than what you remember from pre-Covid and that change will persist. Legacy retailers will find it difficult to survive without the evolution and those who swiftly adapt will obtain a competitive advantage. It can be daunting without a partner, and Studio RX is positioned to support those in their digital transformation.
The amount of software and tech services out there can be quite intimidating when beginning or revamping your digital strategy. The way you build your tech stack influences much about your company:what kind of products you’ll be able to build, how efficiently you’ll be able to work, and who you’ll hire. The process always involves trade-offs—some technologies save time but allow for less customization, others are better for certain audience segment. However, it is possible to assemble a stack that can both meet your needs now and evolve as your company matures.
You don’t need our adviceto realize how vital an e-commerce strategy and implementation is. Before thepandemic, online retail was already accelerating, and Covid-19 only surged thisforward further. People are changing what, when and how they buy, and understandingthese advancements is paramount. The major shift in e-commerce is here to stay,and the time to adapt is now.
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