When considering whether to adopt new methods and practices, retailers know that it can't be done haphazardly. These kinds of decisions take time to ensure that the right approaches and strategies are being implemented. This is especially true when it comes to incorporating new digital technologies into operations.

In fact, recent research from O2 found that if merchants don't take the time to research and determine which digital methods are best for their companies, they could lose significant amounts of money. ComputerWorldUK reported that the O2 study revealed that many retailers in the United Kingdom are either not adopting digital solutions or are implementing the wrong ones for their operations, and this is costing approximately £12 billion in missed revenues.

This large loss is partly due to poor digital engagement through new channels and systems, as the source explained that customers are less likely to do business with a brand that does not provide streamlined communications through in-store and online experiences. The study revealed that 56 percent of consumers think that digital interactions with retailers are more convenient. This highlights the growing need for merchants to adopt technologies that accommodate their patrons, but careful research and dedication needs to be part of this process.

This entry was posted by Retail Pro on Wednesday, July 3rd, 2013 at 3:04 am .