Retail CIO Outlook Weekly Brief
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Today, technology has become the prime concern in the retail sector and organizations must invest in the right software to power the front and back end of their businesses. But is there such a thing as too much choice?
Fremont, CA: To remain competitive in their marketplace, retailers and brands have started thinking about which aspect of their business they should invest in, such as products, labor, or technology. Today, technology has become the prime concern and the organizations in the arena are forced to invest in the right software to power the front and back end of their businesses to stay abreast.
In a recent survey on the buying habits of American merchants, it shows that 51 percent of U.S. retailers suffer from information overload when it comes to making software purchases for their businesses. The explosion of technology vendors selling into the retail sector has overwhelmed U.S. merchants, and the lack of time and expertise has led to poor purchasing decisions. Additionally, because of the complex volume of choices, 66 percent of retailers indicated that they would invest in software based on a trusted brand, rather than price. This suggests that there is a 
significant information gap between solution vendors and consumer.
According to the study, acquiring new customers is the top priority for U.S. retailers while keeping the existing ones as happy as possible. Almost 60 percent of U.S. merchants invest in customer service technology and delivery tracking solutions that provide greater transparency and allow for better customer communication during the delivery process. Almost two-thirds of retailers spend on social media marketing, and 55 percent invest in advertising software as a substantial portion of the investment is focused on customer acquisition.
The customer journey should be quick, specific, and transparent since personalization is a fundamental principle of obtaining new clientele. Sixty-four percent of participants mentioned that they had spent on web personalization software over the past 12 months.
When implementing new software, the first thing to take into consideration is scalability. Expect the effect of the changes made, make sure to take a complete look at the business, and think about how the software will need to integrate with other applications and systems. Invest wisely to give a competitive edge to the business, but before doing so, make sure to research first.
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