Too many retailers are spending on technology without transforming the customer experience—buying iPads for their sales associates, for example, without a vision of how that will enable them to win in an omnichannel world. And the pace of change is increasing. Retailers’ choices for how to deploy technology across channels and throughout their supply chains are becoming more complex. Next-generation technologies, including augmented reality–based virtual fitting rooms, virtual concierge services and virtual shopping walls, already are emerging. Although many retailers will be tempted by exciting technology, the reality is that technology for its own sake only adds cost, pushes prices up and further exacerbates the cost advantages pure-play online retailers already enjoy. So what are the smart investments?
“Omnichannel Retailing,” Darrell Rigby, Kris Miller and Josh Chernoff, bain.com