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Future of Retail — Insights
issue 03
implement a strategy to provide a single view of the customer. However, 79% of respondents have this issue on their agenda
• Connecting the dots across the various customer touch points is now a core priority but security, data and privacy risks are holding some back. While the C-suite understand the importance of having the right data and technology capability, they are still struggling with execution. 49% of respondents identified security/ compliance/data privacy risk and related issues as a concern when getting new omnichannel business technology solutions to the top of agenda for the organisation
• Retail loyalty programmes aren’t dead but require a rethink - two thirds of consumers are members of loyalty programmes, but the study found the format is changing as 57% of consumers said they prefer loyalty programmes that can be accessed digitally. Customers are also looking for loyalty programmes which are based upon a host of non-price related facets like insights, reviews and innovations in engagement and convenience.
Keith Alexander, a director at
PwC, said: “PwC and SAP’s survey of consumers and retailers provides further evidence of what we already suspected - there is a widening gulf between consumers’ rising demands on what they expect from omnichannel retailing, and the ability of retailers to deliver on their promises in a fully joined up fashion. The consequences of failure could threaten retailers’ very survival, especially in a world where consumers are empowered by social media to vocalise poor customer experiences and are easily able to shift their loyalties.”
The way businesses are planning their workforce is changing, and being impacted by the rise of artificial intelligence and automation.
A new study has found that 15% of HR leaders said their plans were being affected right now, and a further 40% believe this will happen within the next two to five years. The sixth annual Harvey Nash
Human Resources Survey, which canvassed 1,008 HR leaders from over forty countries, found that technology
One in seven HR leaders say that automation/ artificial intelligence is already impacting their workforce plans
is revolutionising how today’s HR departments are operating, with 60% of respondents saying the importance of Technology Enabled HR has increased within the past year. Over half of respondents
understood that innovation for their organisation was ‘very important’, and 86% believe that HR has its own role in promoting and supporting innovation. Lisa Wormald, director at Harvey
Nash Group, said: “It probably comes as no surprise that technology is seeping into the Human Resources department, but what is particularly striking is quite how many HR leaders believe that AI and automation are affecting their plans already. The good news is that HR is not only embracing this innovation, but is a key part of it.”
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