European retailers are more likely than any other sector (83%) to believe they are gambling with their digitalisation investments. With nearly three-quarters of retailers admitting to playing digital catch-up, speed of response is critical and they can count on Fujitsu to help seamlessly connect new digital front-end experiences to their back-end systems and infrastructure.
Fujitsu global retail director for strategy and business development, Richard Clarke explained, “As online and physical worlds come even closer together, the development of ‘the connected store’ will become a key differentiator for retailers.”
“Retailers are under extreme and constant pressure to head down the ‘Digital Express Aisle’. Fujitsu research finds that four in five retailers want to move faster toward digital adoption. They agree that failing to digitalise fast enough will lead to sweeping penalties including reduced market responsiveness, higher relative costs impacting pricing and revenues, not to mention problems with customer retention and loyalty.”
This year is widely tipped by industry pundits as the ‘year of digital transformation’ with, for example, IDC predicting that: “By 2018, 80% of European business-to-consumer companies will have created immersive, authentic omni-experiences for customers, partners and employees”.
As one CEO told Fujitsu: “A simple homepage or online shop is no longer enough. The buzzword is omnichannel, as the customer decides when, where, how and which distribution channel is used.” Although there is widespread recognition that digital transformation impacts the top line in terms of how retail organisations optimise customer experiences while maximising efficiency, Fujitsu’s research uncovers huge disconnects in terms of strategic priorities for digital projects. Among the key findings:
- Only one in three respondents agrees that digital priorities are fully aligned within their organisation
- Retail executives disagree about who is the digital driver – only a quarter believe it is the CEO
- One in three business leaders think they are already over-spending on digital projects
- Only one in four is ‘extremely confident’ in making on the right choices
Clarke concluded, “Customers want the same personalised service in-store that they get online, whether that’s through their smartphone or a store device. However, the lack of clear digital ownership across all channels and conflicting priorities are a barrier to success. Fujitsu´s connected retail strategy focuses on supporting its retail customers on their journey to omnichannel digital transformation and in enabling them to achieve balance, both in order for them to thrive in a digital world as well as to transform their businesses without disruption.”
Business leaders who participated in the research summed this up in their own words, saying: “Our customers demand speed and convenience, so we’ve had to become (digitally) mature” … “There’s a strategy but it should be clearer. We’re moving with the innovations sent our way” …”Certain people would keep everything as it is. The resistance to change is strong, as is generally the case in mature sectors.”
Although European retail business leaders agree that omnichannel digital transformation is critical to their future success, research by Fujitsu reveals that most retailers lack a clear strategy for reaching this goal.
In fact, European retailers are more likely than any other sector (83%) to believe they are gambling with their digitalisation investments. With nearly three-quarters of retailers admitting to playing digital catch-up, speed of response is critical and they can count on Fujitsu to help seamlessly connect new digital front-end experiences to their back-end systems and infrastructure.
Fujitsu global retail director for strategy and business development, Richard Clarke explained, “As online and physical worlds come even closer together, the development of ‘the connected store’ will become a key differentiator for retailers.”
“Retailers are under extreme and constant pressure to head down the ‘Digital Express Aisle’. Fujitsu research finds that four in five retailers want to move faster toward digital adoption. They agree that failing to digitalise fast enough will lead to sweeping penalties including reduced market responsiveness, higher relative costs impacting pricing and revenues, not to mention problems with customer retention and loyalty.”
This year is widely tipped by industry pundits as the ‘year of digital transformation’ with, for example, IDC predicting that: “By 2018, 80% of European business-to-consumer companies will have created immersive, authentic omni-experiences for customers, partners and employees”.
As one CEO told Fujitsu: “A simple homepage or online shop is no longer enough. The buzzword is omnichannel, as the customer decides when, where, how and which distribution channel is used.” Although there is widespread recognition that digital transformation impacts the top line in terms of how retail organisations optimise customer experiences while maximising efficiency, Fujitsu’s research uncovers huge disconnects in terms of strategic priorities for digital projects. Among the key findings:
- Only one in three respondents agrees that digital priorities are fully aligned within their organisation
- Retail executives disagree about who is the digital driver – only a quarter believe it is the CEO
- One in three business leaders think they are already over-spending on digital projects
- Only one in four is ‘extremely confident’ in making on the right choices
Clarke concluded, “Customers want the same personalised service in-store that they get online, whether that’s through their smartphone or a store device. However, the lack of clear digital ownership across all channels and conflicting priorities are a barrier to success. Fujitsu´s connected retail strategy focuses on supporting its retail customers on their journey to omnichannel digital transformation and in enabling them to achieve balance, both in order for them to thrive in a digital world as well as to transform their businesses without disruption.”
Business leaders who participated in the research summed this up in their own words, saying: “Our customers demand speed and convenience, so we’ve had to become (digitally) mature” … “There’s a strategy but it should be clearer. We’re moving with the innovations sent our way” …”Certain people would keep everything as it is. The resistance to change is strong, as is generally the case in mature sectors.”