Leaders from the retail and technology industry met at a meeting organized by the provider of technology solutions for companies TS4 Strategy. There, four key issues were addressed that represent the most relevant findings that will impact the sector this year: omnichannel, ecommerce transformation, creativity and customer experience.
The first panel of the event Challenges of Retail 2023, from trends to practice stressed the importance of omnichannel to close the digitalization gap between traditional and online commerce. Salvador Pineda, technology expert and COO of TS4, emphasized that today’s consumers expect a seamless and consistent shopping experience across all available channels.
There should be no conflict between physical stores and an online presence, the crucial thing is to find opportunities to connect with consumers at key moments.
Salvador Pineda, technology expert and COO of TS4.
Juan José Mora, CEO of Atlantia Searchrevealed one of the most outstanding findings, the setback experienced by the development of ecommerce during the pandemic, such as home delivery service for example.
Having an e-commerce and your own Apps is expensive and implies a heavy operational load. Companies are taking advantage of the infrastructure of marketplaces or start-ups. It is not necessary to start from scratch, but to leverage on these solutions.
Juan José Mora, CEO of Atlantia Search.
Regarding the use of technology, Pineda stressed that, although technological acceleration has improved friction in the retail sector, there are still challenges to overcome. He recommended moving quickly and starting with the basics, using technology frameworks that allow for an agile and scalable start.
In a context of technological changes at an extraordinary speed and the explosion of Artificial Intelligence (AI) and new tools, the retail sector needs to prepare more than ever. Salvador Pineda highlighted that a 30% reduction in technology costs is expected this year, which provides opportunities for even the smallest companies to access technological solutions and remain competitive in the market.
Regarding the third finding, both panelists agreed that It is no longer enough to quickly adapt to new technologies, but to use them creatively to ride the wave of innovation. Artificial Intelligence (AI), for example, is recognized as a powerful tool for improving the personalization of the customer experience, optimizing the supply chain, and offering more accurate recommendations. However, the real challenge lies in how to creatively implement it to stay competitive and get positive results.
“We are facing the greatest revolution of humanity, more than the invention of the wheel, than the industrial revolution or the internet,” said Juan José Mora. “We don’t even get a glimpse of the power of AI and how it will change our relationship with technology. The speed of progress is not linear, it is exponential and where there are changes and frictions of this magnitude there are opportunities and retail is no exception”, he added.
Finally, Carlos Agami, founder of Shopology, highlighted that Retail is in the era of customer experience, highlighting the importance of incorporating technology into all interactions that generate emotions. Agami stressed that customers make decisions based on emotions and then justify them with logic. In this sense, she emphasized the relevance of creating emotional experiences through technology to satisfy the needs and preferences of the client.
For his part, Pedro Álvarez, founder and CEO of TS4, closed the event highlighting the importance of personalization, the strategic use of technology, omnichannel and the creation of emotional experiences for customers.
With the findings highlighted in the event “Retail Challenges 2023: from trends to practice”, the retail sector is prepared to face future challenges and take advantage of emerging opportunities, keeping the customer at the center of all its actions and strategic decisions. . For more information, visit the TS4 Strategy page.
Editorial Team The editorial team of EMPRENDEDOR.com, which for more than 27 years has worked to promote entrepreneurship.