On "The Tech Transformation Imperative in Retail"

“The Tech Transformation Imperative in Retail” is a recently published article by McKinsey & Company that I truly recommend ( https://lnkd.in/epFAawXn ). In it, McKinsey argues market evolution ^ pandemic has put significant pressure on the retailers’ bottom line (losing between 3 to 6%/year) and that only a robust tech foundation can reverse the trend (the key figure here is that Digital Leaders outperform Digital Laggards by 3.3x in terms of Total Revenue to Shareholders).

The article then describes a much needed cultural transformation on the way tech is looked and worked at and identifies six key levers for digital acceleration in Retail. 

For me, these levers resonate strongly, as they are mostly aligned with the disruption Reckon.ai wants to bring to Retail:
- OmniChannel integration
- Datafication
- Tech Modernization
- Product-Led
- Highly Automated
- Talent Driven 

I believe AI-Powered Smartstores that are nimble, affordable and completely adapted to people’s daily life are an important part of the digitization and acceleration of physical retail (as are smartareas that transform Supply Chain processes) - and can be engines of the tech transformation championed by McKinsey in this article.