Smart Retail Gets ‘Phygital’: How Digital Technologies Enable the Store of the Future
Retailers need to close the gap between online and bricks-and-mortar operations through the adoption of digital technologies — with the goal of enhancing the consumer and employee experience while engendering trust.
This concept is known as “phygital,” bridging the digital world with the physical world with the goal of providing consumers with unique interactive experiences. In such a scenario, retailers adopt a “smart retail” model that calls for innovating to support a better consumer experience, harnessing the power of data to drive outcomes, and accelerating to an intelligent enterprise where technology and humans work together to create value.
The Internet of Things (IoT), artificial intelligence (AI), and advanced analytics — used to collect, interpret, and act on massive amounts of purchasing, behavioral, and inventory data — play a key role.
Read on to discover how to best leverage these emerging technologies to win in retail's new reality.