Retailers Struggle to Meet Demands for Enhanced In-Store Experiences
In a recent survey, a significant 62% of retailers reported that customers are seeking immersive in-store experiences they currently cannot provide. While 85% affirm that brick-and-mortar locations remain their primary growth channel, many are hindered by outdated point of sale (PoS) technology; only 47% believe their systems foster innovation. Alarmingly, one-third stated their PoS is a major barrier to progress.
Rapid advancements in consumer technology present a further challenge, with 34% of respondents feeling unable to keep pace. Additionally, 31% cited cost as a major obstacle to adopting new solutions. Despite these hurdles, 63% are optimistic about investing in mobile technology, which they find essential for streamlining store operations. Notably, 70% plan to adopt assisted selling and endless aisle technologies within the next 12 to 18 months.
Retailers are increasingly wary of competition. Over a third see hyper-informed consumers as a threat, while 41% believe online rivals are diminishing the value of physical stores. The rise of direct-to-consumer models is also perceived as a risk by 38%, and 28% are concerned about same-day shipping from e-commerce giants.
Joe Corbin, President and CEO of Jumpmind, insists on the urgency of creating engaging in-store experiences, especially in light of rising inflation. Steve Rowen, Managing Partner at RSR, echoes this sentiment, noting the availability of affordable, versatile technology as a remedy.
As the industry gears up for the 2025 RTIH Innovation Awards, which will highlight advancements in in-store technology, the retail landscape is poised for transformation. The awards celebrate innovations that enhance efficiency and profitability in a rapidly evolving omnichannel market.
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