Gartner recent report, Top Unified Retail Commerce Execution Trends for CIOs 2023, finds that “Successive waves of market disruption are pitching retailers into a state of “permacrisis.” Retail CIOs can use this trends research to advise the business on how to grow profitability by investing in technology to implement immersive experiences, optimize margin and create new revenue streams.”
- These immersive experiences will play an increasingly important role in sales, with Gartner predicting “By 2027, immersive shopping technologies will expand to enable more than 7% of sales interactions in nonfood segments from less than 1% in 2022.”
Gartner also stresses the importance of harnessing the power of technology to improve the customer experience and boost profitability – “Implementation of AI-enabled merchandising solutions can go some way toward redressing the balance by optimizing costs and reducing returns. However, for long-term profitability and relevance in the market, merchandising planning must undergo a tectonic shift away from product hierarchies and toward customer behavior hierarchies.”
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Figure 2: Customer-Centric Merchandising Processes Are Customer-Inclusive
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