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:
“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.”