The past few years have been a rollercoaster ride for the retail industry. The pandemic and related supply chain disruptions led to shuttered storefronts and rampant bankruptcies. Then, last year, in-store sales grew faster than online sales, while ecommerce stocks took a big hit.
A survey from this year’s World Retail Congress suggests that the uncertain times aren’t over for the industry. Retailers cited rising costs, declining consumer spending and supply chain volatility as their top concerns. The survey also found that less than 13% of retail organizations are investing in technology to tackle these challenges, instead remaining focused on short-term fixes like increasing prices and running marketing campaigns.
