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‘As a retailer, how much should I be spending on IT?’ Although retail decision-makers have been asking this question (with high frequency) for decades, the amplified role of technology in driving sales today has arguably made this question more important than ever before.

JOHANNESBURG – In South Africa, and indeed, worldwide, e-commerce has been turbo-charged by the newfound reliance on technology and digital tools in almost every sphere of life.

Though the retail sector has been slow to adopt digital technologies, there is set to be an increase in technology investment to better respond to changing customer habits, according to Gartner.

Increasingly, retailers need to create a compelling reason for customers to enter their stores and should look at technology as a way to differentiate themselves from the competition.

Retailers are looking to enhance in-store value propositions with a personalised customer experience.

Advances in technology have driven change in the retail and hospitality industry, which has significantly impacted the way in which brick-and-mortar stores operate.

Personalisation is a powerful tool that allows retailers to market to the right person, at the right time, with the right offer. Store owners can now offer tailored products and promotions to customers using data analytics and artificial intelligence – and they are seeing greater sales as a result.

Much attention has been given to the phenomenal rise of e-commerce, as consumers delight in the convenience of shopping from the comfort of their homes. And as e-commerce interfaces have become ever more slick and seamless, with one-click payment systems and smart, interactive platforms, shoppers have begun to use e-commerce on a regular (sometimes daily) basis.

As business confidence in South Africa plummeted six points in June on the back of disappointing gross domestic product figures for the first quarter, South African retailers battle to achieve profitability, compounded by a PwC survey that names South Africa as the country with the highest rate of economic crime in the world.

redPanda Software has launched its Connected Solution – an integrated platform that improves customer experience, operational efficiencies, productivity, and assists traditional retailers with marketing feedback.