We are pleased to announce we recently sponsored a market research survey which interviewed 500 retail executives in the U.S. and the U.K. to ask them about retail supply chain digitization and the results were quite an eye-opener!
We conducted the survey to learn:
- To what degree retail supply chains were digitized.
- What business benefits retailers enjoyed after digitizing their supply chains.
- How retail supply chain digitization improves customer experience.
- What factors are blocking supply chain digitization, such as perceived cost or company culture.
The findings have now been published, and make for fascinating reading. As an example, we find that less than 20 percent of retailers in the U.S. and the U.K. have a digitized supply chain, and this is figure is concerningly low when you consider the implications of failing to digitize. For instance, retailers will miss out on the significant business benefits reported by those retailers that have already taken the initiative to digitize their supply chains, including faster speed to market which is cited by nearly half (45 percent) of digitized retailers.
This ’faster speed to market,’ is an immensely important benefit given that today’s consumers are more demanding than ever, and almost always require instant gratification. Overall, the report argues that retailers must digitize their supply chains today, to future-proof their business for tomorrow.
These findings are a must-read for any retailer, and this blog only provides a small taste of what you will uncover in the complete report.
Click here to download the complete report, which can also be used to benchmark the performance of your retail organization against industry standards.
We hope you find the report educational, insightful, and useful for your business.