With the retail industry contributing up to 20% of the country's GDP, it is widely acknowledged as a barometer for the nation's economic stability. Any signs of instability, and retailers are the first to feel the pinch. So in recent years, one thing has become clear to retailers: innovate or sink.
Paul Martin of Planet Retail highlighted at the recent Retail Technology Forum in Cape Town that there are five clear areas for retail technology investment and innovation: shopper interactivity (mobile marketing and multi-channel); the future checkout (automation and self-service); next level of optimisation (promotions, pricing, waste reduction and on-shelf availability); supplier collaboration (joint product development, traceability and data sharing); and automation of distribution centres.
These five areas, combined with the phenomenal impact that smartphones and tablets have had on consumer habits in recent years, all provide retailers with some clear challenges ahead. To meet new consumer demands and beat the competition, enterprise systems need to be in order and for many retailers today, this is the key driver to success on the high street.
The Retail Technology Forum provides an ideal setting in which to learn about the latest initiatives, network with peers and explore solutions. Through a programme of one-to-one meetings and networking opportunities, retailers and experts will share their knowledge on the latest trends in retail technology, business process optimisation, supply chain execution, and IT standards – across numerous retail formats.
Retail Technology UK takes place 24-25 June 2013, at The Pullman Berlin Schweizerhof hotel. For more information on how to attend contact email@example.com