As major technology players disrupt the physical retail market, stores large and small must innovate and think like digitally native companies. This means that retailers and CPGs need to be agile and responsive to customer needs and requests in order to improve the shopper experience and to drive sales.
A 2017 World Economic Forum Report predicts that a slew of new technologies, including the internet of things (IoT), artificial intelligence (AI) and robotics, will change the retail landscape. It will be those technologies that give retailers a greater understanding of their physical environments that lead the digital transformation of bricks- and-mortar stores.