Retail tech investment expectation bodes well for tool makers
A new Accenture Strategy report reveals greater tech investment by retailers could lead to $2.95 trillion in sales for technology makers.
The reason? Retailers will be grabbing up new digital tools as consumers want and expect technology in the retail environment.
"Investments in new, digitally-driven business models will give consumers greater choice around how they purchase goods and services, and enable companies to deliver profitable, differentiated experiences," states a release on the study that quantifies the impact of digital transformation on consumer industries in the next 10 years.
The research also identified current consumer hunger for new purchasing experiences and what business models may likely have the greatest success in fulfilling that need.
"The next decade will be a golden age for consumers, with technological innovation creating a variety of shopping experiences that will give consumers the simplicity, convenience or excitement they crave," Chris Donnelly, senior managing director, global retail lead, Accenture Strategy, said in the release. "The success of retailers and consumer goods companies to unlock value will be dependent on their ability to gain a deep understanding of consumers, embrace disruptive technologies and adopt innovative business models."
Topics: 3D Digital Signage, Bill Payment Kiosks, Consumer Behavior, Customer Experience, Customer Service, Digital Merchandising, Digital Signage, Display Technology, In-Store Media, Interactive / Touchscreen, Kiosks / Self-Service, Loyalty Programs, Marketing, Merchandising, Mobile Payments, Multifunction Kiosks, Omnichannel / Multichannel, Payments, POS, RFID Technology, Self-Checkout, Technology