The latest edition of the annual Pulse of Retail report, exploring the strategies of retailers for the upcoming year, has been released. The annual report from Mercaux, which surveyed more than 500 retailers, has for the first time been commissioned jointly by fellow MACH Alliance members, Fluent Commerce, commercetools and Orium.
According to the research, the top technologies in the “launch phase” are centered around customer experiences, with 87 percent of retailers focusing on this area during 2023. Additionally, the survey found that composable architectures are important for 91 percent of respondents. This suggests that retailers are recognizing the need for flexibility and scalability in their technology systems, to adapt to changing customer needs and market trends.
The survey also found that transitioning from legacy to next-generation point of sale (POS) systems is important for 79 percent of retailers. This indicates a growing awareness of the need for modern, efficient technology to improve the in-store customer experience and drive sales. However, the survey revealed that just 11 percent of retailers currently offer a frictionless omnichannel experience, where customers can seamlessly transition from shopping online to in-store, and vice versa. This suggests there is significant room for growth and improvement in this area, and many retailers have yet to capitalize on the benefits of an integrated online and in-store experience.
Mercaux Co-Founder and CEO, Olga Kotsur said, “The survey’s results showcase that retailers are keenly aware of the importance of investing in technology to improve the in-store experience, however, there is still a large gap to fill in regards to creating a cohesive Omnichannel experience. As the industry continues to evolve and adapt, it will be interesting to see how retailers address these challenges and continue to innovate this year, and in the years to come.”
Kotsur concluded, “The results of this survey demonstrate the growing importance of composable architectures and frictionless shopping experiences in the retail industry. Retailers are realizing the need for flexibility and scalability in their technology systems to quickly adapt to changing customer needs, as well as the importance of seamless online-to-in-store experiences to drive sales and improve the overall customer experience.”
To access the full executive summary, analyses and recommendations, click here to download The Pulse of Retail 2023 – Next Generation Retail.
