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80% Of British Retailers Believe Technology Spend Has Improved Efficiency Across Channels

Published on Apr 12 2014 1:36 PM in Technology

80% Of British Retailers Believe Technology Spend Has Improved Efficiency Across Channels

Over 80% of British retailers believe retail technology had improved efficiency across departments, according to a new study.

The UK’s top 60 retailers taking part in the TLT Retail Growth Strategies 2014 Survey said technology will help drive retail sales in 2014.

Overall, those taking part in the study said they were most enthusiastic about mobile payments with two thirds investing in the technology.

Meanwhile, half said that mobile payment technologies also offer the best prospects for growth.

More than 50% of the retailers were considering developing or enhancing online shopping platforms.

Around half of the retail management taking part said they were interested in having mobile devices in-store, customer-facing apps and image recognition systems.

Nearly a third of retailers would consider using augmented reality in future, according to the report.

“Retailers see the value in boosting investment in technology with a focus on how it can help coordinate product, price and promotion across all channels,” said Perran Jervis, head of retail at TLT.

"Backing the right product at the right time, investing in the right skills and ensuring systems are compatible and optimised to meet the latest buying trends are not easy wins,” he explained.

“As the industry moves forward, technology is - and will be - as integral to retail success as brand and location.”

@ 2014 ESM Magazine

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