Technology

Most retail leaders committed to innovation

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February 29, 2024

Over half, 65%, of retailers in the U.S. and Canada are committed to innovation, yet just 3% view themselves leaders when compared to cross-industry leaders such as tech firms and digital retailers.

Those are top findings from Incisiv's "2024 State of the Industry: Innovation in Retail" report, in partnership with Toshiba Global Commerce Solutions. The report polled 138 U.S. and Canadian and 100 Latin American retailers, according to a press release.

Artificial intelligence is a key driver of retail's future, according to the report findings, with 83% of U.S. and Canadian and 67% of Latin American retailers scaling existing initiatives or exploring new investments.

More than half, 66%, of U.S. and Canadian retailers and 38% of Latin American retailers are actively exploring the possibilities of generative AI, according to a press release on the findings.