About 99 percent of the 100 retail executives from large enterprises surveyed predict a surge of technology investments this year, according to SoftServe, an IT consulting and digital services provider, in its new study on retailer technology.
More key findings include:
44 percent of retail executives say improving customer experience is one of retailers’ top 2024 goals driving technology priorities and strategies, followed by increasing customer retention (38 percent) and accelerating customer acquisition (32 percent)
46 percent worry new technology investments don’t leverage or integrate with data and analytics
71 percent cite store operations as the dominant area of business determining technology investments during the next year
50 percent of retail executives plan to invest in AI-powered customer recommendations to increase customer engagement, while 47 percent cite Generative AI as an investment priority
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