Some of the main challenges that limit retailers from taking full advantage of digital transformation are:
TECH INNOVATION
It is not easy for many retailers to create, run, manage and support cutting edge technologies.
This challenge limits many retailers from competing with retail giants, who can spend billions of dollars on IT innovation.
TECH ADOPTION
It is not easy for most retailers to convince shoppers to download their store-specific mobile apps.
This challenge limits many retailers from being able to effectively advertise the right products to the right shoppers at the right time.
PRIVACY LAWS
Privacy laws can cause financial, legal and reputational risks for retailers and third parties who use shoppers’ Personal Identifiable Information & browsing data.
This challenge limits retailers from tracking, profiling and advertising to their shoppers, due to the risk of paying severe penalties and fines, as well as losing public trust.