Businesses advised to utilise digital technology to reach more consumers
Despite start-ups and smaller businesses embracing digital technology, significant barriers to implementation, including cost and security, remain
Digital technology and social media is helping 79% of retailers overcome ‘business challenges’, according to a report by SAP.
The survey of 100 senior retail business leaders revealed that 100% of all respondents use at least one form of social media with 29% using more than three – with sites such as Facebook, Twitter and LinkedIn helping retailers reach more consumers.
40% of those surveyed said that gaining access to potential new customers was the most important area digital technology was helping them with, while 30% said investment in technology was “fundamental” to developing new online sales.
Providing a better customer experience was also cited as a good use for digital technology by 13%, as businesses begin to realise the importance of a personal touch.
Despite start-ups and smaller businesses embracing said tech, significant barriers to full implementation remain for businesses with 23% admitting associated costs are too great.
21% of retail leaders feel technology could potentially take time away from the main aim of running their business, while 17% were concerned about potential security risks.
EJ Jackson, SVP & GM of SAP Anywhere, said:
Building a website for your business idea is easier than you might think. Our online tool ranks the top website builders that offer free trials.
“Growing businesses are at the forefront of delivering a great customer experience.
“They have the skills, agility and personal touch to be there for customers. New technology can really help to play its part, enabling retailers to get a complete picture of not only their business, but every interaction with their customers.
“This means, at a touch of a button, then can understand and tailor their service to customer needs, which is critical in the global retail world we operate in.”