CIOs and the Retail Store of the Future

By Karen A. Frenkel  |  Posted 02-28-2014 Email

Retail CIOs must step out of the back office and embrace social media, mobility and big data to drive innovation and create a complete in-store experience for customers, according to "The Global Agenda of Retail CIOs" study commissioned by Tata Consultancy Services. Forester Consulting conducted in-depth surveys and interviews with 192 senior business and IT executives at global retailers for the report to identify their priorities and investments for 2014 and beyond. "Retail CIOs are uniquely positioned with an enterprisewide perspective to overcome operational silos and become true change-agents, critical to future cross-channel customer engagements and business growth," says Pratik Pal, President of Retail, CPG, Travel, Transportation and Hospitality for Tata. "They are primed to expand their leadership role in the dynamic new world of retail by spearheading the digital and innovation agenda." But they also struggle to find talent and resources to make such changes, the study found. Almost 65 percent say cost reduction is a major focus whereas only 38 percent cite innovation. Meanwhile, 87 percent say revenue growth is their top priority. For more information about the Tata study, click here.

Karen A. Frenkel writes about technology and innovation and lives in New York City.


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