“Retail Tech Challenges and Solutions” Insights memo
As part of the Retail Innovation Hub’s initiatives, we organized the 1st Retail Tech Communities Workgroup, in collaboration with Found.ation. It was a special meeting point for prominent executives from the retail sector in Greece, with the aim of discussing specific challenges and problems that concern the industry, but also providing solutions to them.
Among the issues discussed in the 1st Retail Tech Communities Workgroup was the problem of returns that concerns more and more retailers. The experts participating in the workgroup agreed that it can be turned into a successful shopping experience for customers and an opportunity from which merchants can benefit. Furthermore, the ever-increasing influence of Generation Z buyers in the retail sector was also mentioned by most. Gen Zers are looking for totally different experiences compared to previous generations, and, therefore, a different approach from retailers.
The impact of the GDPR legislation in Europe that has made it difficult for the retailers to adopt innovative solutions was also discussed, as well as issues such as the ROI justification of innovation, especially for small businesses. Most retailers do not decide to make investments in their business, unless they are confident that they will pay off.
Do you want to learn what the experts suggest on each of these matters? Download your free copy of the Retail Insights Memo here.