Digital transformation has become an industry buzzword. So much so that it is dominating retail industry conferences, panel discussions, business summits, etc. While some leaders are terming it as their biggest business enablers, some are admitting that it is one of their biggest challenges.
It is clear that digital transformation has indeed turned the retail industry dynamics head over heels. All the predetermined success parameters have been tossed out the window.
Lately, we have seen a lot of big-box retailers shut down, despite making the investments in digital solutions. On the other hand, we have seen smaller yet agile players disrupting the market with their solutions, processes, business models, and whatnot.
However, dividing the retailers into mere two categories of thriving and struggling brands would be too simple and we know that digital transformation is everything but simple. So how has digital transformation divided the retail industry? Let’s take a closer look.