The retail industry is undergoing rapid transformation due to technological advancements, evolving consumer behaviors, and the convergence of the physical and digital worlds, known as “phygital” retail. This trend combines the advantages of brick-and-mortar and e-commerce models, providing a seamless shopping experience for consumers.
Understanding and anticipating the shifting needs and behaviors of consumers is crucial for success in this competitive market. Retailers that stay ahead of the curve and embrace the phygital revolution can drive innovation and growth while delivering increased value to their customers and stakeholders.
In this 2023 North America report, Let’s Get Phygital: Technology’s Dynamic Impact on the Retail Landscape, we examine:
- The impact of the phygital model on traditional retail stores.
- How companies are harnessing the power of data analytics and AI to transform the industry.
- Key drivers of in-store innovation, including AR/VR, immersive experiences, digital kiosks, interactive displays, and mobile POS systems.
- Benefits and risks of the phygital model for retail stores and strategies for mitigating these risks.