Digital transformation is the goal of each business in the retail industry today. It is the tool used by various businesses across the world to understand and modify their business models. A digital transformation is a strategic approach through which businesses access a wider market. It is a process by which the company integrates new technologies into its operations. Different departments within the company can rely on the technology for data analytics, especially with the growing customer base. As a result, digital transformation gives companies a better avenue through which they can engage their customers to understand and meet their needs effectively.
Digital transformation is relevant in the current business environments due to the changing customer needs. Organizations are experiencing a very competitive business environment in which new technologies are giving customers convenience. Customers’ expectations, therefore, already reflect the changing technical landscape. Online shopping, tracking orders online, and personalized advertisements that suit customers’ preferences are some of the elements affecting customer experience. In the retail sector, changing customer expectations in the wake of new technology influences a company’s competitive advantage. Markedly, companies that invest massive resources in digital transformations have an advantage compared to those still relying on traditional business models.
