KPMG’s Mark Larson sees the future of retail being more about the experience than the product or service.
Consumer and retail (C&R) CEOs in the U.S. are looking into M&A and third-party alliances to drive growth, according to the findings from KPMG’s 2018 U.S. CEO Outlook survey.
In fact, 83 percent of U.S. C&R CEOs are very confident about their company’s growth over the next three years, while 98 percent see technological disruption as an opportunity rather than a threat.
However, growth comes with multiple risks including cyber risk and operational risk. Ninety percent of U.S. C&R CEOs said that protecting customer data is one of the most important responsibilities for their organizations in order to grow.
“CEOs expect to see a significant return on investment from digital transformation and artificial intelligence, as more retailers are using data and analytics to create personalized customer experiences,” said Mark Larson, national leader of KPMG’s Consumer & Retail practice. To hear more about Larson’s comments on the future of the C&R industry, please watch this video.
U.S. C&R CEOs also said that they made significant investments in personalizing the customer experience, and 88% said that these investments have delivered the growth benefits expected. However, there is more to be done, as retailers have the opportunity to further engage in conversations with their customers and learn how to better serve them.
To connect with Larson to discuss the finding of the survey and the future of retail, please contact Andreas Marathovouniotis.
To access the full report, please click here.
Global retail trends 3028