The retail industry is undergoing seismic shifts stoked by swift and unprecedented technology innovation. This change presents both a challenge and an opportunity for retailers faced with adapting to a shopping landscape being upended by a $2.3 trillion global ecommerce market, and the rise of savvy, ever connected consumers with the world’s biggest virtual mall at their fingertips.
For retailers and brands navigating this new world, digital intelligence and innovation—be it an artificial intelligence powered chatbot that fields customer service requests or a hyper-local store assortment informed by the Internet of Things—are critical to driving sales and margins in today’s on-demand consumer economy.
Digital technology is the connective tissue adding ease, convenience, customization, and automation to every aspect of a retail organization—from its business processes, operations, and how employees work, to the customer experiences provided and the very products and services offered.
In this paper, we explore the opportunities birthed by digital transformation, and how Microsoft can help retailers reimagine their businesses and survive and thrive in today’s competitive environment.