When asked about specific technological investments, more respondents indicated that they plan to increase investment in their online capabilities rather than instore capabilities. Forty-six percent of respondents reported planning to invest in artificial intelligence for their ecommerce over the next 12 months, compared to 34 percent in physical stores. However, this does not mean that the transformation of the physical store is being neglected. For example, our research still shows promise for the technological transformation of physical stores, noting that 30 percent of stores will see investments in mobile applications to use on location.
Ultimately, retail IT departments should explore how the new technologies they’re investing in can deliver benefits across both in-store and online. Many of the same technologies that will be so vital to the inevitable ecommerce expansion – like data analytics, mobile applications and artificial intelligence – can also help deliver a flawless customer experience in-store. It is just the application which is different.