The COVID-19 pandemic changed developments, with digital and self-service now the norms. Meanwhile, companies are still implementing plans decided before the pandemic. Many of these plans include new retail store openings and using new marketing technology for retail stores to improve sales, customer experience, and operational efficiency.
• Companies need to reassess their channel strategy to see if they must make adjustments to support the preferred channel better. While the retail store concept is undergoing redefinition, the online channel grows stronger by the day.
• Constraints due to limited budgets are increasing, with some companies neglecting to update their websites while concentrating on mobile applications.
• The good news is that there is an intention to lead with a customer experience-first strategy in 2023. The wild card is how much companies are willing to spend to address it.
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