As a result of this VUCA environment, retailers constantly experience near-term network flow volatility due to promotion calendars, holidays, weather impacts, store resets, supply disruptions, and large assortment updates.
The digital transactions in the total volume of non-cash retail payments during 2020-21 period jumped to 98.5 per cent, with credit transfers being the most used method. The data in the previous year stood at 97.0 per cent.
The fashion industry has witnessed a great revolution in the e-commerce sector which includes the growth of dynamic industries, consumer rights, ethical as well as sustainable fashion, also the season less fashion.
With the role of technology in today's era, it has become crucial for any startup or business to adopt the latest technology which enhances its performance and enables them to survive in the competitive market.
To improve their approach to hyper-personalization, brands should begin hyper-personalizing customer engagement in retail, focusing on how to grow from trend analysis and customer behavioral analysis to offer personalized customer experiences.