Cisco recently unveiled its new report, A Roadmap to Digital Value in the Retail Industry, detailing what the major areas of global digital value in retail will be over the next three years, and encouraging retailers to come up with a 'digital roadmap’.
According to the paper, even though digital disruption is already happening in retail, and is widely recognised by the industry, less than one-quarter of retailers are actively doing anything about it.
In the report, Cisco notes that this disruption presents both an opportunity and a threat, and that failing to adapt can put retailers at a risk of being displaced.
However, it also says that the "Retail Digital Value at Stake is $506 billion globally over the next three years.
"Last year, the retail industry as a whole realized only 15 percent of its potential Digital Value at Stake."
According to Cisco, to capture a bigger share of the value at stake, retailers need to build digital roadmaps to support both primary business objectives, and deliver the biggest near- and medium-term returns.
© 2016 - Checkout Magazine by Jenny Whelan.