Mercaux Pulse of Retail report showcases retailers’ digital transformation strategies in 2023
The latest edition of the annual Pulse of Retail report, exploring the strategies of leading retailers for the upcoming year, was officially released at last week’s NRF 2023 event in New York.
The Mercaux offering, which surveyed more than 500 retailers, has for the first time been jointly commissioned by fellow MACH Alliance members, Fluent Commerce, commercetools and Orium.
According to the research, the top technologies in “launch phase” are centred around customer experiences, with 87% of retailers focusing on this area during 2023.
Additionally, the survey found that composable architectures are important for 91% of respondents, suggesting that retailers are recognising the need for flexibility and scalability in their technology systems, in order to quickly adapt to changing customer needs and market trends.
Meanwhile, transitioning from legacy to next generation Point of Sale (PoS) systems is important for 79% of retailers.
However, the survey revealed that just 11% of retailers currently offer a frictionless omnichannel experience, where customers can seamlessly transition from shopping online to in-store, and vice versa.
Mercaux Co-Founder and CEO, Olga Kotsur, says: “The survey's results showcase that retailers are keenly aware of the importance of investing in technology to improve the in-store experience, however there is still a large gap to fill in regards to creating a cohesive omnichannel experiences.”
“As the industry continues to evolve and adapt, it will be interesting to see how retailers address these challenges and continue to innovate this year, and in the years to come.”
Kotsur concludes: "The results of this survey demonstrate the growing importance of composable architectures and frictionless shopping experiences in the retail industry.”
“Retailers are realising the need for flexibility and scalability in their technology systems to quickly adapt to changing customer needs, as well as the importance of a seamless online-to-in-store experiences to drive sales and improve the overall customer experience."
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