In this special episode of Total Retail Talks, Total Retail's Joe Keenan and Kristina Stidham discuss the key findings and insights revealed in Total Retail's 2019 Retail Technology Report, produced in conjunction with Arm Treasure Data, an enterprise customer data platform. The survey was designed to get a better understanding of retailers current usage of and spending on technology; their future technology needs and wants, and how that will impact spending; their top tech-related challenges; and the technology buying processes within their organizations.
A few interesting trends to emerge from the data include evidence of the continued boom in technology spending, with nearly three-quarters of retailers planning to increase spending on technology in the next 12 months. Furthermore, retailers are betting on artificial intelligence (AI) as the emerging technology to have the biggest impact on the industry in the next year. The report also revealed that retailers’ top challenge when implementing new technology is integrating new tech with existing legacy systems and solutions.
This annual report is useful for retailers to benchmark their technology spending against their competition, and for technology service providers to get a rare glimpse into how organizations are making tech budget decisions. To download your free copy of Total Retail's 2019 Retail Technology Report, click here, or find it on our site at mytotalretail.com/resources.