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Outdated IT Limits Retail Opportunities

According to research more than half of retailers are prevented from making use of customer data as a result of complex legacy IT systems.

The study, conducted by tech supplier Daisy, found 69% of retailers claimed complex IT systems were preventing them from implementing new technology trails and innovating online or in-store.

67% of those involved in the study believed their old tech made them less able to compete in current markets than those with modern retail technology.

46% of retailers also cited legacy systems as a barrier for innovation and productivity.Over the past few years retailers have been increasingly moving to an omni-channel approach, with customers expecting a seamless and personalised experience.

As part of this, more than half of retailers plan to focus on improving the in-store experience.

James Pickering, retail specialist at Daisy Corporate Services, said: “The importance of the store as part of a retailer’s future plans cannot be underestimated.

“The old approach of buying a piece of equipment and using it for 20 years is now making retailers less competitive, compared to those using technologies that are faster and more flexible.”

Over the next year 49% of retailers plan to invest in digital signage and 48% plan to invest in data and analytics to properly analyse customer data. 17% of retailers also hope to invest in geo-location technology to better target customers.

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