Over the last 20 years we have seen a seismic shift in retail and the customers that retailers serve. Today, handheld (or wearable) digital devices are abundant and a younger, social customer has come of age. We are living in an era where customers are in the driver’s seat and are craving authenticity, newness, convenience, and creativity. We are living in the customer – driven economy.

The trends which were futuristic once have become table stake now. In 2017 retail innovators know that technology is no longer supplemental to shopping experience but it is fundamental. Technology alone, is however not enough. Customers are seeking overall enhancement in their experience – in – store, online and also being as a retail employee. To achieve this, retail industry needs to focus on attracting the right talent and making the retail industry the employer of choice.

This puts the Human Capital teams of retails at the forefront. They play a key role in helping retail organisations step – up to the digital world. This 2017 Retail trends survey focuses on HR Paradigms of Digital Age. It provides perspectives on retail industry using digital platforms both from customers and employees view.

The overall survey result shows that retailers chose the below as their top priorities:

• Enhancing customer experience via digitisation,
• Digitizing internal processes for faster turnaround
• Invest in enhancing in-store knowledge and skills available.

Retailers have also fairly rated the need to integrate employee lifecycle processes, investing in customer delight and developing social media presence as secondary needs to the above.

The survey result also shows that the CXOs of the retail organisations are more bullish about going digital. Retailers also agree there is a gap that needs to be addressed to achieve the above. They feel that to be ready for the digital revolution in retail industry, the priorities that need to be addressed are:

• Significant investment in the store of future
• Adaptation of employees to digital

Overall, the digital mindset in people is missing, which needs a fix, immediately.

The digital revolution is catching the customer’s eye much faster than it is getting implemented at stores. Customers are already ready to face this digital revolution for retail. They are happy to have location check – in platforms and scan-as-you-shop mobile apps for a hassle-free shopping experience. They believe in providing views on social media platforms than independent websites, which seek feedback.

Consolidated view of reviews and suggestions is what the customers are hoping for. It’s now up to the retailers to meet their expectations.

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Article source: STOrai Magazine