Retailers are seriously lacking confidence when it comes to delivering a seamless, connected experience across channels. This is according to a new report by SAP and PwC. The report, based on a poll of 300 retailers and more than 2,000 consumers, says less than a fifth (17 percent) of retailers are confident in their capabilities.
More than six in ten agree siloed business units are hurting their efforts, and a third say they are having trouble implementing the “single view of the customer”. Just eight percent have successfully done this, the report claims.
Retailers are faced with four key challenges, when delivering a connected experience in an omni-channel world. First, they aren’t deciphering customer data fast enough. Second, security and data privacy when connecting the dots are holding retailers back. Third, loyalty programs are in dire need of a complete makeover, and finally, there is a serious need for awareness of the social media-savvy consumer.
“Retail presents a key battleground in really winning customer satisfaction, especially through connected systems and seamless shopping experiences”, comments Shane Finlay, director of Retail Industries, SAP UKI.
“As the research shows, some retailers still have a way to go in getting to the endpoint in their digital transformation journeys. The good news is technology is now available to provide that enabling platform for growth, differentiation and innovation by integrating the front office seamlessly with the back office, and to power personalization and decision making with sophisticated analytics. By really going back to the consumer, brands can derive insights that will allow them to stay ahead of their competition and ultimately, position them as market leaders”.
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