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How to Win in Retail: Less Science, More Art

After two decades of investing in the science of retail, it’s time for the industry to better balance technology solutions with a deeper understanding of art, writes Doug Stephens.

After two decades of investing in the science of retail, it’s time for the industry to better balance technology solutions with a deeper understanding of art, writes Doug Stephens. — After two decades of investing in the science of retail, it’s time for the industry to better balance technology solutions with a deeper understanding of art, writes Doug Stephens. (Getty Images)

By

Doug Stephens

11 August 2023

Over the last 20 years, technology has transformed retail. Mobile phones have become essential conduits for communication, entertainment and commerce. Technologies like augmented reality, once a novelty, have become commonplace digital merchandising and selling tools. E-commerce, which in 2003 amounted to a rounding error on most retailers’ profit and loss statements, has become table stakes for any business wishing to survive.

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Further Reading

Human Creativity Is Key to Winning the AI Revolution

Over the next decade, artificial intelligence will bring unprecedented cost savings to the retail sector. The era’s winners will be those that re-invest these savings in human imagination.

The Existential Question Facing Every Retailer Today

Retailers must create radical value, not just for consumers, but for brands.

In This Article

Topics

Retail

Organisations

Amazon

Tags

Consumers

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