Digital First Report 2023
Technology is moving at the speed of light, or so it seems. And whether brands, retailers and every company along the supply chain likes it or not, digitization is coming.
And why wouldn’t it? Machine learning and artificial intelligence systems don’t just automate manual tasks plus aggregate and analyze data faster than humans can, they do so with better accuracy and tireless efficiency.
Retailers across the board are buying into AI technologies, figuratively and literally. Coresight Research predicts global retail spend on AI to reach $8.5 billion this year, up from $7 billion in 2022. Such investments are going to everything from SaaS, reverse logistics, e-commerce, Web3, fit technologies, predictive analytics, demand planning, on-demand manufacturing, and much, much more.
Suppliers are getting pulled into the mix too, as increased rules and regulations make supply chain visibility mission critical. “You’re seeing brands now who for a long time didn’t want to be in their suppliers’ business, have a need now to be in their suppliers’ business,” said Paul Magel, president, application solutions group, CGS.
That’s not to say digital transformation is easy. Confusion abounds as does trepidation. And while tech offerings seem endless, corporate budgets are not. This report explains the latest platforms and products so you can better analyze ROI for your business in this Brave New World.
Download this report to learn:
- What exactly is Web3 and how it can be applied across the industry
- How demand-sensing tech can optimize inventory levels
- How fit technology can maximize online sales and mitigate margin-draining returns
- How Macy’s, Walmart, Adidas and Amazon are using augmented reality (AR) to virtually test products
- How to move retail returns beyond a ‘cost of doing business’
- How AI and automation are boosting domestic producers
- How social media live-streaming generated $5M in sales for one company in four years
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