Retail
KNOWLEDGE IS POWER
Process intelligence can help retailers drive results even in tough times, says Rupal Karia, country leader UK&I, Celonis.
B 48 | November/December 2024
ritain’s technology retailers have weathered years of disruption, and even now, the picture is still far from
rosy. Figures released by the British Retail Consortium showed a decline in ‘non-food’ purchasing in September with big-ticket items like electricals having performed ‘poorly’ in the face of the cost-of-living crisis. KPMG has warned that a ‘challenging’ retail environment is ‘likely to dominate’ for the remainder of the year. Te pressure from macroeconomic uncertainty technology retailers have faced in recent years, from changes in customer expectations and the global supply chain
crisis, are not showing signs of easing up, with McKinsey analysis describing the last half- decade as having seen more disruption than the previous 25 years. Tere are some positive signs however.
Tis year’s Euros drove an uptick in TV sales and increased consumer interest in PCs is being driven by new AI-enabled devices. New developments like AI are presenting tech retailers with an opportunity not available in other sectors, and they need to ensure they have their systems in order to maximise these upticks in consumer spending as we get into the busy Christmas shopping season.
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