| | August 20158Challenges in Technology in Retail Sector and its Solutions The retail industry is undergoing a massive transformation unlike anything we've experienced before. This seismic shift is being driven by advances in new retail technologies. Our basic shopping needs have not changed much in last decade but consumer behavior has transformed significantly in last five years. One of the challenges retailers face is the ability to keep up with changing consumer behavior which requires ability to implement advance retail technologies on a wider scale. The bottom line is that retailers need to evolve to new technology strategies at a much faster pace. To remain competitive in this cutthroat and evolving landscape, it's imperative that retailers embrace the right technologies and implement them to provide the compelling consumer and shopping experiences. Technologies giving competitive edge in the retail Platform-as-a-ServiceWe will see evolution and large scale adoption of Platform-as-a-Service technologies to deliver new services to consumers. They will also be used to optimize store operations, logistics and supply chains. We can expect to see these grow rapidly. Many companies are overhauling their existing systems to seamlessly connect physical stores, online shops and marketplaces with customer service and warehouses in real time.Rapid and sustainable innovationsToday innovation is expensive and can a take long time before retailers can realize any benefits and value. We will see innovation and new technologies come not only internally from Daymon Worldwide is the full-service global retail branding and sourcing partner which provides customized branding solutions that drive sales and profitable growth across multiple categories and channels.Abhi Beniwal, SVP of Global Information Technology, Daymon WorldwideCoping With Immense Technological ChangesCXO INSIGHT
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